Bank of America Corp DE Sells 2,576,715 Shares of Ferrovial SE $FER

Bank of America Corp DE lowered its holdings in Ferrovial SE (NASDAQ:FER) by 19.5% during the 1st quarter, Holdings Channel reports. The firm owned 10,654,888 shares of the company’s stock after selling 2,576,715 shares during the period. Bank of America Corp DE’s holdings in Ferrovial were worth $693,100,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Lazard Asset Management LLC raised its stake in shares of Ferrovial by 40,717,866.7% during the 3rd 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. Algebris UK Ltd. bought a new position in Ferrovial during the fourth quarter valued at about $839,930,000. Amundi increased its holdings in Ferrovial by 87.0% during the third quarter. Amundi now owns 21,528,574 shares of the company’s stock worth $1,297,312,000 after buying an additional 10,016,475 shares during the last quarter. Norges Bank purchased a new stake in Ferrovial during the fourth quarter worth about $605,204,000. Finally, Credit Agricole S A bought a new stake in Ferrovial in the third quarter worth about $343,371,000. Institutional investors own 22.28% of the company’s stock.

Wall Street Analysts Forecast Growth

FER has been the topic of a number of research analyst reports. Zacks Research upgraded shares of Ferrovial to a “hold” rating in a research note on Tuesday, May 19th. Citigroup lowered shares of Ferrovial from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $75.30 to $70.00 in a research note on Wednesday, May 27th. Finally, Weiss Ratings cut shares of Ferrovial from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.47.

Ferrovial Stock Performance

Shares of FER opened at $65.10 on Friday. Ferrovial SE has a fifty-two week low of $50.72 and a fifty-two week high of $74.79. The business has a 50-day moving average of $66.43 and a 200 day moving average of $67.79. The company has a debt-to-equity ratio of 1.39, a current ratio of 1.20 and a quick ratio of 1.05.

Ferrovial Announces Dividend

The firm also recently announced a dividend, which was paid on Monday, June 15th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.5578 per share. The ex-dividend date was Tuesday, May 19th.

About Ferrovial

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.