Ferrovial SE $FER Shares Sold by Legal & General Group Plc

Key Points

• Legal & General Group Plc trimmed its stake in Ferrovial by 3.2% in Q3, selling 218,006 shares and now holds 6,548,289 shares (about 0.88% of the company) valued at roughly $375.6M.
• Various institutions made small moves—EverSource grew its position 118.6% and Osaic increased its stake 9,326.3%—and total institutional ownership is about 22.28%.
• FER opened at $65.68 (52-week range $40.46–$74.79) and analyst sentiment is mixed; the consensus rating is Hold with an average price target of $73.12 after several upgrades and downgrades.

Legal & General Group Plc reduced its stake in Ferrovial SE (NASDAQ:FER - Free Report) by 3.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,548,289 shares of the company's stock after selling 218,006 shares during the period. Legal & General Group Plc owned 0.88% of Ferrovial worth $375,597,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC grew its position in shares of Ferrovial by 118.6% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 671 shares of the company's stock valued at $39,000 after buying an additional 364 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Ferrovial in the third quarter valued at $66,000. Credit Industriel ET Commercial purchased a new stake in Ferrovial in the third quarter valued at $72,000. AlphaCore Capital LLC acquired a new position in Ferrovial in the second quarter valued at $83,000. Finally, Osaic Holdings Inc. boosted its stake in Ferrovial by 9,326.3% in the second quarter. Osaic Holdings Inc. now owns 1,791 shares of the company's stock valued at $96,000 after acquiring an additional 1,772 shares in the last quarter. Institutional investors and hedge funds own 22.28% of the company's stock.

Ferrovial Stock Performance

Shares of FER stock opened at $65.68 on Thursday. The stock's 50-day moving average price is $69.27 and its 200 day moving average price is $64.35. Ferrovial SE has a 52-week low of $40.46 and a 52-week high of $74.79.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FER. Morgan Stanley reiterated an "overweight" rating on shares of Ferrovial in a research report on Wednesday, January 7th. Sanford C. Bernstein cut Ferrovial from a "strong-buy" rating to a "market perform" rating in a research report on Wednesday, December 10th. Citigroup restated a "buy" rating and set a $75.30 price target (up from $72.10) on shares of Ferrovial in a research note on Friday, December 19th. Weiss Ratings lowered Ferrovial from a "buy (b+)" rating to a "hold (c+)" rating in a research report on Thursday, March 5th. Finally, Jefferies Financial Group downgraded Ferrovial from a "buy" rating to a "hold" rating and increased their price objective for the company from $70.42 to $70.93 in a report on Monday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $73.12.

Ferrovial Company Profile

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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