London, June 29, 2026, 16:08 BST
- Balfour Beatty plc (LON:BBY) was at 861p at 15:50 BST, down 1.7%. The FTSE 250 (INDEXFTSE:MCX) dropped 0.4%.
- The 2026 buyback has taken out 12.88 million shares from voting stock at an average price of 795.0142p, which means the company has spent around £102.4 million so far. That’s a little more than half of the £200 million planned.
- Balfour Beatty landed a £325 million SSEN contract last week, which works out to about 7.9% of its equity value, but shares are still trading 3.3% under the 890.5p high for the year.
Balfour Beatty plc (LON:BBY) shares dropped more than the London mid-caps on Monday. The stock slipped under last week’s highs after a new buyback filing showed the group is now over halfway through its 2026 share repurchase.
Balfour Beatty Plc shares traded at 861p, down 15p, or 1.71%, as of 15:50 BST on turnover of 1.24 million. At the same time the FTSE 250 (INDEXFTSE:MCX) slipped 0.40% to 23,054.67. The FTSE 100 (INDEXFTSE:UKX) was off 0.09% at 10,498.22 as of 15:36 BST.
| Delayed market print | Latest | Change | Time |
|---|---|---|---|
| Balfour Beatty (LON:BBY) | 861.00p | -1.71% | 15:50 BST |
| FTSE 250 (INDEXFTSE:MCX) | 23,054.67 | -0.40% | 15:50 BST |
| FTSE 100 (INDEXFTSE:UKX) | 10,498.22 | -0.09% | 15:36 BST |
The main data point isn’t just Monday’s drop. It’s where Balfour Beatty is buying stock now. In an RNS, the company said it bought 276,024 shares between June 24 and June 26, paying up to 890.5p per share on June 25. That matches the year high showing on its share price page.
The latest buys totaled about £2.42 million at an average price of 875.69p, according to RNS venue data. That’s 1.7% higher than Monday’s delayed print at 861p. Shares are still up 70.8% from the 504p low this year, though they’ve fallen 3.3% from the recent 890.5p high.
| Capital return and contract math | Figure | Read-through |
|---|---|---|
| 2026 shares picked up in the programme | 12.88 mln | 2.6% of what implied starting voting rights |
| Implied buyback outlay to date | £102.4 mln | That’s 51.2% of the announced £200 mln plan |
| VWAP for buyback over last three sessions | 875.69p | Sits above Monday’s 861p mark |
| Buyback left to run | about £97.6 mln | Works out to roughly 11.3 mln shares at 861p |
| SSEN Netherton Hub contract size | £325 mln | Near 7.9% of current equity market cap |
For investors, the buyback now costs more as Balfour Beatty shares have climbed. The shares traded at 861p with 479.97 million voting shares, putting the company’s equity at about £4.13 billion. A £200 million buyback represents about 4.8% of the equity. What’s left to buy would get about 2.4% of the voting shares at Monday’s price, before any costs or price changes.
Balfour Beatty’s order book is still backing the bull story. The company said on June 25 it picked up a £325 million contract from Scottish and Southern Electricity Networks for the Netherton Hub in Aberdeenshire, a deal that runs for two years. CEO Philip Hoare said this win puts Balfour “at the forefront of the UK’s energy infrastructure market.” TradingView
Balfour Beatty Plc said Monday it has appointed Angus Murray as managing director for its UK Major Projects arm, effective Sept. 1. The portfolio includes big jobs like Hinkley Point C, Net Zero Teesside, small modular reactors, and the UK reservoir programme. Phil Clifton, divisional CEO for UK Energy & Major Projects, said Murray “brings first-hand experience” in major infrastructure. Balfour Beatty Plc
Balfour Beatty left its 2026 outlook steady in its May AGM update, sticking with a forecast for high single-digit percentage growth in profit from operations from its earnings-based units. The company reported first-quarter average monthly closing net cash of £1.55 billion and kept its 2026 average net cash guidance at £1.3 billion to £1.5 billion.
The company said in May it had 15 UK energy transmission projects at the design stage. Most of those are set to move to construction over the next 18 months. When that happens, the full project value will hit the order book. For the stock, the key test is now the pace of new contracts and how fast schemes shift from design to construction, rather than broad trends in UK construction.
Balfour Beatty shares jumped 12% to a new high in early trading after the company in March guided for a high single-digit percentage increase in 2026 profit from operations, approved a £200 million buyback, and raised its full-year dividend 12% to 14p. Underlying profit from operations for 2025 had climbed 16% to £293 million, Reuters reported.
