Bellway (LON:BWY – Free Report) had its price target hoisted by Berenberg Bank from GBX 2,900 ($37.87) to GBX 3,200 ($41.79) in a research note issued to investors on Tuesday morning, Marketbeat.com reports. Berenberg Bank currently has a hold rating on the stock.
A number of other equities research analysts have also commented on the company. JPMorgan Chase & Co. reaffirmed a “neutral” rating on shares of Bellway in a research report on Friday, July 5th. Citigroup reiterated a “buy” rating and issued a GBX 3,368 ($43.98) price target on shares of Bellway in a report on Thursday, August 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a GBX 3,650 ($47.66) price objective on shares of Bellway in a research report on Tuesday, June 18th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of GBX 3,204.20 ($41.84).
Check Out Our Latest Stock Analysis on BWY
Bellway Price Performance
Bellway Increases Dividend
The firm also recently disclosed a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be given a GBX 38 ($0.50) dividend. This represents a dividend yield of 1.15%. The ex-dividend date is Thursday, November 28th. This is a positive change from Bellway’s previous dividend of $16.00. Bellway’s payout ratio is currently 6,166.67%.
Insider Buying and Selling
In other Bellway news, insider Keith Adey sold 27,303 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($42.53), for a total transaction of £889,258.71 ($1,161,215.34). 3.73% of the stock is currently owned by corporate 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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