Insider Buying: Bellway (LON:BWY) Insider Acquires 3,141 Shares of Company Stock

Bellway p.l.c. (LON:BWY) insider Simon Scougall bought 3,141 shares of the stock in a transaction dated Friday, October 23rd. The stock was bought at an average cost of GBX 2,164 per share, for a total transaction of £67,971.24.

Bellway Price Performance

Shares of BWY traded up GBX 12 during mid-day trading on Monday, reaching GBX 2,200. 3,161,371 shares of the company’s stock traded hands, compared to its average volume of 3,926,299. The stock has a market cap of £2.45 billion, a P/E ratio of 16.72, a P/E/G ratio of 3.40 and a beta of 1.37. The stock’s 50-day moving average is GBX 2,092.51 and its two-hundred day moving average is GBX 1,992.07. Bellway p.l.c. has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890.

Bellway (LON:BWY) last issued its quarterly earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share (EPS) for the quarter. Bellway had a return on equity of 5.49% and a net margin of 6.12%. Research analysts predict that Bellway p.l.c. will post 159.07 earnings per share for the current year.

Bellway declared that its board has authorized a share repurchase plan on Tuesday, September 1st that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Share repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BWY. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 2,380 price target on shares of Bellway in a research note on Wednesday, October 14th. Citigroup boosted their price target on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a research note on Wednesday, August 12th. Finally, Berenberg Bank dropped their price objective on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating on the stock in a research note on Wednesday, October 14th. Six investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of GBX 2,527.89.

Bellway Company Profile

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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.