Balfour Beatty (LON:BBY) Shares Pass Above Two Hundred Day Moving Average – Here’s What Happened

Balfour Beatty plc (LON:BBY) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 458.49 ($6.17) and traded as high as GBX 498.20 ($6.70). Balfour Beatty shares last traded at GBX 494.80 ($6.65), with a volume of 1,280,164 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 510 ($6.86) price target on shares of Balfour Beatty in a report on Monday, March 17th.

Balfour Beatty Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.84 and a debt-to-equity ratio of 79.85. The firm has a market cap of £2.52 billion, a price-to-earnings ratio of 11.55, a PEG ratio of 3.75 and a beta of 0.81. The firm’s fifty day moving average price is GBX 479.49 and its 200-day moving average price is GBX 458.49.

Balfour Beatty announced that its Board of Directors has initiated a share repurchase plan on Wednesday, March 12th that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insider Activity at Balfour Beatty

In other news, insider Philip Harrison sold 155,560 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of GBX 434 ($5.84), for a total value of £675,130.40 ($907,921.46). Insiders own 1.15% of the company’s stock.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.