Morgan Sindall Group Sees Shareholding Change
Why we think this is neutral
The RNS announcement is a routine regulatory filing regarding a change in major shareholding, which is unlikely to have a significant impact on the company's prospects or share price. The positive broker sentiment and the share price trading above key technical levels suggest the market views the company's fundamentals positively.
Key Points
- abrdn plc affiliated entities now hold 4,721,079 shares, representing 9.833675% of the voting rights in Morgan Sindall Group
- This is a decrease from their previous holding of 10.961450%
- Numis has reiterated a Buy recommendation on the stock, with a new price target of 3,000p, up from the previous 2,500p
Summary
Morgan Sindall Group plc has announced that abrdn plc affiliated investment management entities have increased their stake in the company to 9.833675%, holding 4,721,079 shares. This is a decrease from their previous holding of 10.961450%. The RNS does not provide any context or explanation for the shareholding change. Broker Numis has reiterated a Buy recommendation on the stock, with a new price target of 3,000p, up from the previous 2,500p.