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Balfour Beatty ( (GB:BBY) ) has shared an update.
Balfour Beatty has announced the purchase of 147,297 ordinary shares as part of its ongoing share buyback program, executed through Merrill Lynch International. The shares, bought at a volume weighted average price of 548.2035 pence, will be held in treasury, bringing the total number of shares repurchased under the program to 16,708,968. This move is part of Balfour Beatty’s strategy to manage its capital structure effectively, impacting the total voting rights and potentially influencing shareholder interests in line with the FCA’s Disclosure and Transparency Rules.
The most recent analyst rating on (GB:BBY) stock is a Buy with a £5.80 price target. To see the full list of analyst forecasts on Balfour Beatty stock, see the GB:BBY Stock Forecast page.
Spark’s Take on GB:BBY Stock
According to Spark, TipRanks’ AI Analyst, GB:BBY is a Outperform.
Balfour Beatty’s strong financial performance and robust technical indicators are the most significant factors driving the stock’s positive outlook. The company’s strategic initiatives, such as the share buyback program and major contract wins, further enhance its market position. While valuation is fair, the optimistic earnings call and corporate events support a strong growth trajectory.
To see Spark’s full report on GB:BBY stock, click here.
More about Balfour Beatty
Balfour Beatty is a leading international infrastructure group with over 27,000 employees. The company specializes in financing, developing, building, maintaining, and operating complex infrastructure projects that support national economies and local communities. With a history spanning 116 years, Balfour Beatty has been involved in iconic projects worldwide, including the Hinkley Point C nuclear power station in the UK, the Lyric Theatre in Hong Kong, and the Automated People Mover at Los Angeles International Airport.
Average Trading Volume: 896,785
Technical Sentiment Signal: Buy
Current Market Cap: £2.71B
Learn more about BBY stock on TipRanks’ Stock Analysis page.