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

Key Points

• Bank of America reduced its Ferrovial stake by 19.5% in the first quarter, selling 2,576,715 shares. It still held 10,654,888 shares worth approximately $693.1 million, representing a 1.45% ownership stake.
• Ferrovial shares opened at $65.10, within a 52-week range of $50.72 to $74.79. Institutional investors collectively own 22.28% of the company, while several smaller funds increased their positions.
• Analyst sentiment is mixed but leans toward “Hold”: two analysts rate the stock Buy and five rate it Hold, with an average price target of $70.47. Citigroup recently downgraded Ferrovial to Neutral and cut its target to $70.00.

Bank of America Corp DE cut its position in Ferrovial SE (NASDAQ:FER - Free Report) by 19.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned 1.45% of Ferrovial worth $693,100,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Signaturefd LLC raised its position in shares of Ferrovial by 1,089.1% during the fourth quarter. Signaturefd LLC now owns 547 shares of the company's stock worth $35,000 after purchasing an additional 501 shares during the period. Cullen Frost Bankers Inc. grew its position in Ferrovial by 80.9% in the 4th quarter. Cullen Frost Bankers Inc. now owns 586 shares of the company's stock valued at $38,000 after purchasing an additional 262 shares during the period. Blue Trust Inc. grew its position in Ferrovial by 136.8% in the 1st quarter. Blue Trust Inc. now owns 779 shares of the company's stock valued at $51,000 after purchasing an additional 450 shares during the period. Larson Financial Group LLC increased its stake in Ferrovial by 240.2% during the 3rd quarter. Larson Financial Group LLC now owns 973 shares of the company's stock valued at $57,000 after purchasing an additional 687 shares in the last quarter. Finally, J.Safra Asset Management Corp bought a new stake in Ferrovial during the 4th quarter valued at $68,000. 22.28% of the stock is owned by institutional investors.

Ferrovial Trading Down 0.0%

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

Ferrovial Announces Dividend

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

Analyst Ratings Changes

FER has been the topic of a number of recent research reports. Zacks Research raised shares of Ferrovial to a "hold" rating in a research note on Tuesday, May 19th. Weiss Ratings downgraded shares of Ferrovial from a "hold (c+)" rating to a "hold (c)" rating in a research report on Wednesday. Finally, Citigroup lowered shares of Ferrovial from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $75.30 to $70.00 in a report on Wednesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, Ferrovial has an average rating of "Hold" and an average target price of $70.47.

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.

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