- Balfour Beatty CEO sells shares
- Carr’s director snaps up stock
- Victrex CFO buys after first-half results
Leo Quinn, chief executive of construction group Balfour Beatty (BBY), sold 189,921 shares at 384p for a total value of £730,423 on 16 May.
Quinn’s move could be seen as ‘cashing in’ on good news after Balfour Beatty shares have gained over 9% year-to-date.
The FTSE 250 company recently said it continued to expect an increase in earnings after trading had been in-line so far in 2024.
Balfour Beatty also expects further ‘major orders’ and it has made progress with three projects.
CARR’S DIRECTOR BUYS SHARES
Gillian Watson, senior independent director at agriculture and engineering company Carr’s Group (CARR), bought 37,254 shares at 136p for a total value of £50,695 on 14 May.
Watson’s move comes after the company recently reported a 2% increase in revenue to £81.4 million for the six months ending 29 February 2024. Year-to-date Carr’s shares are up 31% to 134p.
Looking ahead, Carr’s expects trading conditions in agriculture to remain challenging over the short-term, particularly in the US where the industry is dealing with cyclical herd reductions and regional droughts.
VICTREX CFO BUYS SHARES
Ian Melling, chief financial officer of polymer manufacturer Victrex (VCT), bought 1,500 shares at £13.02 for a total value of £19,525 on 15 May.
Victrex recently reported a fall in first-half profit but the company said it expected an improvement in the second half of the year.
Melling’s purchase could be capitalising on this future optimism for the polymer manufacturer. Over the past year shares have fallen over 15%.
‘We have confidence in our mid-to-long-term opportunities, with a diversified core business, increasing commercialisation in our mega-programmes, well invested assets, enhanced capability in our global team and the opportunity for cashflow improvement,’ commented chief executive Jakob Sigurdsson at the half-year stage.
