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Fitzgerald purchased 53,618 shares today at roughly 926p apiece for a total transaction amount of approximately £496,503.
Don’t forget they tried to buy P&O in the late 80’s I was a main subcontract on Region of Kent & London. Built good homes. Most famous build has to be the 07 flats and pent houses Hermitage court. Wapping. Then it was Enterprise zone 89/92. Not worked for them since. You may wonder why
UK,
Well, call me an old cynic, but on the day that Bovis announced a shedding of 180p of book value per share for the year, it was probably the least he could do.....?
Time will, no doubt, tell... but probably not just yet... there's a nice carrot being waved in the form of a dividend... that usually does the trick for a while, as can be evidenced in the various LSE chats....
I mean, for example, Persimmon have had to pay out pretty much all their earnings over the past few years to keep their div yield up as their PBV is so high (their tangible book value per share has hardly progressed since 2017 either), but the upshot for last year, based on reality check EPS of 160p, would mean a total shareholder return for Persimmon of 6%.
I'd be happy to debate the numbers on either of these companies if you think they're wrong, but that's how I see it, and so Persimmon are another share I don't hold despite their awesome return on equity.
But to, once more, put the numbers on it for Bovis rather than just to be taking any notice of the gesture made by the boss's share buy today, the 180p per share of value shed over the past 12 months represents 21% of tangible book value per share as it stood a year previously.
I regard that as rather eye-watering...
By sharp contrast, whatever the management of Redrow may or may not be up to with their personal shareholdings (and I just looked at that and I think you're referring to John Tutte's sales? And he's retiring anyway, so maybe he needs the dosh for some spring bedding plants, or whatever..?), they have added 9% to the book value as it stood just six months ago.
To be frank, I don't pay much regard to the buys and sells of directors of listed companies... it seems to me that they don't necessarily have the same reasons & motivations for doing so as ordinary investors, and, from what I can tell, they're not necessarily any more prescient than ordinary investors in terms of where the price might be headed in the short or medium term.
Personally, I only invest based on perceived best value.
In respect of trying to call the short term movement of share prices, I recognise that I'm up against a complete nutter called Mr Market and I'm really not up for trying to take him on as I'm far too much of an investing wuss.
I remain fully invested as a matter of normal procedure, barring a perceived iceberg ahead as with this time last year, and, other than that, if I want some cash out, I try to avoid times when Mr Market is having a bad hair day...
Strictly
Not entirely unfair , but Vistry CEO bought £400k worth or so today, Redrow management have been selling.
2227
You may well be right....?
Bovis's future may well be bright...?
Without a crystal ball, I don't know, though I am mindful that the new management is ex-Galliford - another company that's hardly covered itself in glory in recent times....
As I'd said, and I wasn't trying to be facetious, I guess most people are either looking at numbers differently to me, or looking at different numbers...
But rear-view-mirror-investing has served me well enough for more than two decades, and I reckon I'm too long in the tooth to be likely to change now...?
Bovis is a company that I keep an eye on and, on the whole everything has its price.... but I reckon Bovis would have to halve in price relative to the other builders for me to seriously consider it as an investment prospect.
Each to his own, though, of course...
Strictly
Vistry is a very different company now. Numbers from 5 and 10 years aren't relevant, particularly when there was a big acquisition last year.
The most important thing is that VTY has a new management now.
Interesting to note from today's results that Bovis's tangible book value per share has virtually stood still for the past six years (well, to be precise, it's gone up by just 0.6% from 655p to 659p over that time) while Redrow's tangible book value per share over the same time scale has gone up by nearly 140%, from 211p to 502p.
Take it back 10 years, and the gap's even bigger.... 23% BVPS gain for Bovis, over 230% BVPS gain for Redrow.
Yet one is currently required to buy Bovis at the princely rate of 1.38 PBV compared to only having to buy at 1.15 PBV for Redrow....
It is quite surprising to me how much people are prepared to pay for such stunning under-performance....
Obviously, if someone has been successfully day trading in Bovis shares then that's one thing, but, for a long term buy & hold share going back, there's only one word to describe it...
Nightmare.
I haven't got the relevant numbers to hand going back to 2010, but, from the start of 2013, if you priced Bovis at the 670p it would need to be to get back to the 1.03 PBV it started the period at, that's a share price gain of just 19% in eight years.
By contrast, the comparative for Redrow is 238%...
Funny old world, ain't it..?
Obviously most folks are looking at the numbers somewhat differently to me...?
Or maybe they're looking at different numbers..?
Strictly
04-Mar-21 Buy Greg Fitzgerald 53,618 shares .
B14 > Management buying shares today should show up on RNS soon ;-)
must have missed that , it was a quick skim read, but its very high level, hopefully this is followed up with dedicated announcements on how they are delivering this.
Why even post on these forums if you're not going to read the RNS properly?
"· Completed full review and stakeholder consultation on strategy for sustainability, defining a range of targets and commitment to set clear roadmap in 2021 for Group to achieve net zero carbon"
Not a single mention of Vistry's green agenda.... I know they are a building company, but unless they wake up and start to major on a green strategy the confidence will drain from the business.
Green is the future of the share price and can act as an accelerator, as an example SigmaRoc have come up with a environmentally kind brick that is competitive to traditional concrete blocks, I'd love Vistry to lead on the use of greener materials and sourcing to propel the share price along with the fundamentals.
so is there no results from vty tomorrow?
Yearlies have been postponed to 04-March - RNS out on 19th Feb
Will the results be positive and the sp go up,any thoughts?
Housebuilding seem to be in vogue at the moment.
Regards C8
Results due later in the month. Should be interesting.
Regards C8
Hi 2227,
You do know that broker upgrade,PT only affect sp on the day it's announced?!also bdevs results were half year so significant but today's and PSN tw later in the week are only quarterlies so not that important
Hi 2227,
You do know that broker upgrade,PT only affect sp on the day it's announced?!also bdevs results were half year so significant but today's and PSN tw later in the week are only quarterlies so not that important
Brokers have not updated their profit forecasts for 2020 yet. They should do that over the coming days and hopefully the share prices of the house builders will respond.
builders don't seem to have been excited by vty update today which is inline but not above expected.vty was up about 4% at the open but now only about 0.45% I am thinking we could have same muted response from the sector to PSN and tw tomorrow and Thursday!
Anyone got a view on what the 2020 "modest" divi might be and indeed , what is likely for 2020 return to normal divi's ?
looking back I can see a 58.5p divi for 2019 , which is circa 5.9% based upon a price of 982p, wondering if there will be a 3% for 2020 so 28/30p and back to 50/60p for 2021?
Housebuilders are booming at present despite tightening restrictions. Sales performance is great and better than at similar stages over the last few years. The recent Barratt Trading update confirms that. All Housebuilders and Shareholders will be smiling by close of play on Friday