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RNS CEO's wife buys £715000 worth. Ought to be a clue there.
RNS Another £1.9m bought back and cancelled as being more effective than dividend. On today's, they consider 4145p underpriced.
Sharecast News) - UK housebuilders are too cheap to ignore, Jefferies said in a research note on Thursday.
"With construction looking un-impacted by the latest Covid measures and the strength in the housing market providing increasing comfort on the sustainability of demand, we see the UK housebuilders as oversold," the bank said.
"News flow on Covid, Brexit, stamp duty and help-to-buy changes will likely create share price volatility near term. Nonetheless, we see current share price weakness as presenting a great entry point for our key picks: Persimmon, Berkeley, Barratt."
Jefferies noted that to date, housebuilders have said that local lockdowns such as the one in Leicester have not impacted construction build-out on site. As a result, the bank reckons that similar will be true of Tuesday's step-up in Covid measures and would even be the case in a scenario of a more aggressive lockdown.
"Reflecting this, the more important impact of the lockdown for the sector will likely be the influence on customer demand," it said. However, it said that with agreed sales up 40% year-on-year, mortgage demand ahead of levels lenders can process, and house price inflation 3-5%, recent housing data, provide increasing comfort on its forecasts.
"Near term share prices may remain volatile reflecting macro news flow, with an air pocket in company news flow until the November trading updates which should be able to provide colour on demand for housing for April and beyond (i.e. after the expiry of the stamp duty holiday and Help to Buy changes).
"Nonetheless, with valuations reflecting house price declines of up to 14%, we believe the profitability and return on equity profile of the sector remains significantly under-estimated."
Cheap buy-backs while prices depressed, leading to higher earnings per share in the future.
" The amount to be paid as a dividend will be announced prior to the end of February 2021, taking account of any share buy-backs made in the intervening period."
Shareholders will benefit with astute, low-priced, buybacks.
I make that over £5m over the last two RNS, buyback and cancellation. Must be very confident that that is money well spent at the price to deliver value to shareholders.
And again. The company will consider the shares undervalued at the price paid.
Continuing to purchase own shares, and cancel them, with the objective of increasing eps.
RNS today reads positively, how will the market like it? SP to open slightly up?
Any thoughts on this?
Well, that did not work out for you.
is the news true? RIP
Very sad news regarding TP , industry leader . From a shareholder perspective potentially a large share dump ahead
Generally, brokers marking builders up, as with Berkeley, to 'buy'.
I have bought some of these this morning to add to my house builders - over last 2 days brokers have increased price targets with one moving up to a buy. But it is a longer term 'thing' for me anyway.
hopefully start of a blue week
also watching ncyt nice buying there
hoping to see more of a move up here at bkg this month
I would say it’s got something to do with chancellor’s comments on the economy and not bouncing back quicker than expected, ie: not a V shaped recession
This is a big fall even for BKG with its volatility. I can't see anything to cause ot other than nervousness about the London housing market. Anyone any thoughts?
I'm suspicious ... it's unusual for a company to alter its articles of association, one of the principle documents first created when a company is formed and that governs how it conducts itself as regards governance etc. The RNS today gives notice that they've posted articles to the NSM, but as yet they aren't there.
I wonder what's going on here, nothing untoward I hope ...
Capital return
https://www.lse.co.uk/rns/BKG/proposed-capital-return-glx9be3ffi1ba7v.html
After selling half my holdings, the rest are held at an average price of just over £7.
Unless there is a massive drop in share price in the future, this is now a stock that I can forget about.
Berkeley chairman sells shares worth $54 million in house builder
https://uk.reuters.com/article/us-berkeley-group-share-sale/berkeley-chairman-sells-shares-worth-54-million-in-housebuilder-idUKKBN1WV1J8
Excellent company. Lots of demand for houses. Good hedge against Brexit uncertainties. Big divvies to come next month. Going to £42 and beyond. Buy now , set a movable stop loss and enjoy the money coming in.
BKG is well run of that there is no dubt. I first bought in 2013 and gave held since then though moving them into as ISA wwhen I could. I was attracted by the company, the market and it its dividend policy. Share buy backs will, as you say help the share price in the long run, but I would rather have the cash so I can decide whether to reinvest or buy something else. I have no intention of selling but would like a better split between buy back and dividends.
ODEY has had that short for some time now and Liberum is still at 3400 and until Brexit is sorted and the London property market becomes normalised again who knows where this may go.
GLALTH