Kier and MGNS up today too so could just be the sector being in the blue |
More than sentiment moving these upwards, what is it ?? |
Costain doing well buying their own shares back on the cheap, good bang for buck. |
101.5 on the ask, demand is strong for this company, what a pull back after 45m shares were off loaded at 91p. |
I wonder if we will get a mea culpa from the Kier bull? Costain has outperformed it on a YTD, 1yr and 2yr basis. |
I do wonder if PE/VC have been sniffing around and some have caught wind.
Get a loan to buy COST, use the COST cash in the bank to finance the loan, sit back for 5% of T/O, pay off debt quickly = get a free cash cow company. |
Costain at least buying their shares on the cheap -
"Date of Purchase"
11 September 2024
Number of Ordinary Shares purchased
313,137
Weighted average price per day (pence)
97.32
Highest price per share (pence)
100.00
Lowest price per share (pence)
95.20 |
11-Sep-24 08:45:39 91.1092 9,200,000 Unknown* 96.00 96.40 8m O
11-Sep-24 08:50:52 91.00 9,200,000 Unknown* 96.00 96.40 8m O
11-Sep-24 07:32:16 91.00 41,666,666 Unknown* 96.00 96.40 38m O |
Sun1950 having been investing for near on 25years I think sum of the trades posted are very suspect and I'm not sure if it's ADVFN program because a lot of the info they put out is not accurate or up to date |
If the trade volume is correct then 43% of the shares in issue were traded today that’s a lot more than the 15% placed late yesterday and this morning or am I missing something I bought more today but would appreciate a trading update in the next few weeks |
Volume v MC
...hmm |
Yes my apologies, nothing to do with the company. Their biggest investor happy to sell at a discount. |
Another shareholder sold the shares not Costain....
I would suspect the company are bounded by listing rules not to buy a particular shareholder's holding and in any case it would require a resolution in order to do so.
Also, it's in Costain's interests to have other institutions on-board. You never know if they might be needed for a capital raise in the future. |
Bought a while back but happy to bank profits. Still has some mileage but don’t mind leaving some for the next person, one of my best trades.
Seems illogical to me for the company to buy their shares on the market at 104p but sell 41.7 million at 91p. Edit: long day, meant their largest holder happy to sell at a discount. |
IC today on COST.
If you believe in the sustainability of those structurally higher margins as they deliver them and a less risky balance sheet, then [Costain] looks very, very cheap,” he said. [But] they’ve got to convince the market the improvements they’re making are sustainable.” |
Let's get an answer from Costain IR on this valid point. |
Business valuation and fundamentals haven't changed here, this is just an insti swapping/selling out for satisfying an original commitment. |
Added some more |
Were any shares shorted in advance? |
I did say we are likely to see a retarce back to around 90p before we get the next move up |
Then that leaves us time to buy more at a lower price. I'm not in any particular hurry. |
Also ex div tomorrow |
Bit optimistic sasbod assuming they sell more like 1-2 months |
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