Severn Trent Plc (LON:SVT) Lifted to “Hold” at HSBC Holdings plc
Severn Trent Plc (LON:SVT) was upgraded by HSBC Holdings plc to a “hold” rating in a report issued on Friday, Marketbeat Ratings reports. The brokerage presently has a GBX 2,160 ($27.98) target price on the stock, down from their prior target price of GBX 2,200 ($28.50). HSBC Holdings plc’s target price suggests a potential downside of 2.17% from the company’s current price.
Several other research analysts have also recently issued reports on the stock. Credit Suisse Group increased their price objective on shares of Severn Trent Plc from GBX 2,190 ($28.37) to GBX 2,230 ($28.89) and gave the company a “neutral” rating in a report on Friday, June 30th. Deutsche Bank AG restated a “hold” rating and set a GBX 2,500 ($32.38) target price on shares of Severn Trent Plc in a report on Monday, June 26th. Barclays PLC raised their target price on shares of Severn Trent Plc from GBX 2,340 ($30.31) to GBX 2,550 ($33.03) and gave the stock an “equal weight” rating in a report on Monday, June 12th. J P Morgan Chase & Co raised their target price on shares of Severn Trent Plc from GBX 2,280 ($29.53) to GBX 2,500 ($32.38) and gave the stock a “neutral” rating in a report on Wednesday, May 24th. Finally, Beaufort Securities restated a “buy” rating on shares of Severn Trent Plc in a report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of GBX 2,367.22 ($30.66).
Shares of Severn Trent Plc (SVT) traded up 1.94% during midday trading on Friday, hitting GBX 2208.00. The stock had a trading volume of 1,252,772 shares. The firm has a 50 day moving average of GBX 2,422.90 and a 200-day moving average of GBX 2,335.11. The company’s market cap is GBX 5.20 billion. Severn Trent Plc has a one year low of GBX 2,047.00 and a one year high of GBX 2,575.00.
The company also recently declared a dividend, which will be paid on Friday, July 21st. Investors of record on Thursday, June 15th will be given a GBX 48.90 ($0.63) dividend. This represents a dividend yield of 2%. The ex-dividend date is Thursday, June 15th. This is an increase from Severn Trent Plc’s previous dividend of $32.60.
In other news, insider Dominique Reiniche purchased 400 shares of Severn Trent Plc stock in a transaction that occurred on Tuesday, June 27th. The stock was acquired at an average price of GBX 2,266 ($29.35) per share, for a total transaction of £9,064 ($11,740.93).
About Severn Trent Plc
Severn Trent Plc treats and provides water and removes wastewater in the United Kingdom and internationally. The Company provides clean water and wastewater services through its businesses, Severn Trent Water and Severn Trent Business Services. It operates through two segments: Regulated Water and Waste Water, and Business Services.
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