Balfour Beatty Advances Share Buyback Program with New Purchase

An update from Balfour Beatty ( (GB:BBY) ) is now available.

Balfour Beatty announced the purchase of 115,000 of its ordinary shares as part of its ongoing share buyback program. The shares, bought at a volume weighted average price of 508.8543 pence, will be held in treasury, reducing the number of shares in circulation and potentially increasing shareholder value. This move aligns with the company’s strategy to manage its capital structure effectively, impacting the total voting rights in the company and providing shareholders with a clear denominator for interest calculations under regulatory 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 optimistic earnings call outlook are the most significant factors, combined with positive technical indicators suggesting a strong market trend. The company’s valuation is reasonable, supported by strategic corporate events such as an active share buyback program.

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 finances, develops, builds, maintains, and operates complex infrastructure projects globally, supporting national economies and local communities. Notable projects include 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: 1,182,170

Technical Sentiment Signal: Buy

Current Market Cap: £2.51B

See more data about BBY stock on TipRanks’ Stock Analysis page.