Ferrovial (NASDAQ:FER) Hits New 12-Month High – Still a Buy?

Shares of Ferrovial SE (NASDAQ:FER) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $69.20 and last traded at $69.0490, with a volume of 213698 shares traded. The stock had previously closed at $67.95.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FER. Sanford C. Bernstein lowered Ferrovial from a “strong-buy” rating to a “market perform” rating in a report on Wednesday, December 10th. Weiss Ratings restated a “buy (b+)” rating on shares of Ferrovial in a research report on Thursday, January 22nd. Citigroup reiterated a “buy” rating and issued a $75.30 price objective (up from $72.10) on shares of Ferrovial in a report on Friday, December 19th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating on shares of Ferrovial in a research note on Monday, November 3rd. Finally, Morgan Stanley restated an “overweight” rating on shares of Ferrovial in a research report on Wednesday, January 7th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.30.

Ferrovial Price Performance

The company has a fifty day simple moving average of $66.38 and a 200-day simple moving average of $60.74.

Ferrovial Announces Dividend

The business also recently announced a special dividend, which was paid on Monday, December 22nd. Stockholders of record on Friday, December 5th were given a dividend of $0.077 per share. The ex-dividend date of this dividend was Friday, December 5th.

Hedge Funds Weigh In On Ferrovial

A number of institutional investors have recently bought and sold shares of FER. Hsbc Holdings PLC lifted its stake in Ferrovial by 1.9% during the second quarter. Hsbc Holdings PLC now owns 25,386,224 shares of the company’s stock valued at $1,348,444,000 after buying an additional 472,349 shares in the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Ferrovial by 40,717,866.7% during the third quarter. Lazard Asset Management LLC now owns 21,987,702 shares of the company’s stock worth $1,258,865,000 after purchasing an additional 21,987,648 shares during the period. Amundi grew its position in Ferrovial by 87.0% during the third quarter. Amundi now owns 21,528,574 shares of the company’s stock valued at $1,297,312,000 after purchasing an additional 10,016,475 shares in the last quarter. Vanguard Group Inc. increased its stake in Ferrovial by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 20,699,246 shares of the company’s stock valued at $1,341,125,000 after buying an additional 354,530 shares during the period. Finally, TCI Fund Management Ltd. lifted its position in Ferrovial by 0.7% in the 2nd quarter. TCI Fund Management Ltd. now owns 19,470,666 shares of the company’s stock worth $1,038,720,000 after buying an additional 137,238 shares in the last quarter. Hedge funds and other institutional investors own 22.28% of the company’s stock.

Ferrovial Company Profile

Ferrovial, SA is a Spanish multinational infrastructure company headquartered in Madrid that develops, constructs, operates and maintains transport and urban infrastructure. Its core activities include the design and construction of large civil engineering projects, the development and operation of transport concessions such as toll roads and airports, and the provision of urban and industrial services and maintenance. The company typically operates through long-term concession and public-private partnership models, combining construction expertise with asset management and operations.

Within its operating model, Ferrovial’s business spans construction contracting, concession management and services.