Steve Morgan Sells 12,950,000 Shares of Redrow plc (RDW) Stock
Redrow plc (LON:RDW) insider Steve Morgan sold 12,950,000 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of GBX 590 ($7.62), for a total transaction of £76,405,000 ($98,676,223.69).
Redrow plc (RDW) opened at 584.00 on Thursday. Redrow plc has a 1-year low of GBX 366.50 and a 1-year high of GBX 666.00. The stock’s market capitalization is GBX 2.11 billion. The firm’s 50-day moving average is GBX 598.86 and its 200 day moving average is GBX 558.25.
The business also recently announced a dividend, which will be paid on Tuesday, November 14th. Shareholders of record on Thursday, September 21st will be issued a GBX 11 ($0.14) dividend. This is a boost from Redrow plc’s previous dividend of $6.00. This represents a yield of 1.74%. The ex-dividend date of this dividend is Thursday, September 21st.
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A number of research analysts recently weighed in on the stock. Peel Hunt reissued a “buy” rating and issued a GBX 740 ($9.56) target price on shares of Redrow plc in a report on Tuesday. Beaufort Securities reissued a “buy” rating and issued a GBX 720 ($9.30) target price on shares of Redrow plc in a report on Wednesday, September 6th. Bank of America Corporation raised their target price on shares of Redrow plc from GBX 455 ($5.88) to GBX 530 ($6.84) and gave the company an “underperform” rating in a report on Tuesday. Deutsche Bank AG raised their target price on shares of Redrow plc from GBX 548 ($7.08) to GBX 549 ($7.09) and gave the company a “hold” rating in a report on Wednesday, May 31st. Finally, Liberum Capital reissued a “buy” rating and issued a GBX 561 ($7.25) target price on shares of Redrow plc in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of GBX 637.17 ($8.23).
Redrow plc Company Profile
Redrow PLC is engaged in residential housing development. The Company is engaged in constructing homes throughout England and Wales. The Company’s operations are focused on housebuilding. Its product range is focused on traditional family housing in its regional businesses and apartment schemes in Greater London.
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