Bellway (LON:BWY – Free Report) had its price objective raised by Berenberg Bank from GBX 2,900 ($37.87) to GBX 3,200 ($41.79) in a research report sent to investors on Tuesday morning, MarketBeat.com reports. They currently have a hold rating on the stock.
Several other research firms have also recently weighed in on BWY. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Bellway in a report on Friday, July 5th. Royal Bank of Canada restated an “outperform” rating and set a GBX 3,650 ($47.66) target price on shares of Bellway in a research report on Tuesday, June 18th. Finally, Citigroup restated a “buy” rating and set a GBX 3,368 ($43.98) target price on shares of Bellway in a research report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Bellway has an average rating of “Moderate Buy” and a consensus price target of GBX 3,204.20 ($41.84).
Check Out Our Latest Stock Report on Bellway
Bellway Stock Down 3.4 %
Bellway Increases Dividend
The company also recently announced a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be issued a GBX 38 ($0.50) dividend. This represents a dividend yield of 1.15%. This is a boost from Bellway’s previous dividend of $16.00. The ex-dividend date is Thursday, November 28th. Bellway’s payout ratio is 6,166.67%.
Insider Buying and Selling
In related news, insider Keith Adey sold 27,303 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of GBX 3,257 ($42.53), for a total value of £889,258.71 ($1,161,215.34). 3.73% of the stock is owned by company insiders.
About Bellway
Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands.
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