Persimmon (LON:PSN) Hits New 52-Week High – Here’s Why

Persimmon Plc (LON:PSN) hit a new 52-week high on Wednesday . The stock traded as high as GBX 1,721.80 ($22.48) and last traded at GBX 1,720 ($22.46), with a volume of 1477423 shares. The stock had previously closed at GBX 1,662 ($21.70).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. restated an “overweight” rating on shares of Persimmon in a report on Friday, July 5th.

Persimmon Trading Down 1.7 %

The firm has a market cap of £5.31 billion, a PE ratio of 2,074.38, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a 50-day simple moving average of GBX 1,638.54 and a 200 day simple moving average of GBX 1,490.61. The company has a current ratio of 4.09, a quick ratio of 1.04 and a debt-to-equity ratio of 0.38.

Persimmon Cuts Dividend

The company also recently declared a dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 17th will be issued a dividend of GBX 20 ($0.26) per share. This represents a yield of 1.3%. The ex-dividend date is Thursday, October 17th. Persimmon’s dividend payout ratio (DPR) is presently 7,500.00%.

Insider Buying and Selling at Persimmon

In other news, insider Andrew Duxbury sold 5,955 shares of the firm’s stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of GBX 1,663 ($21.72), for a total transaction of £99,031.65 ($129,317.90). 3.01% of the stock is owned by corporate insiders.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.