Directors dealings: Bovis Homes's new chief builds for the future

Housebuilder Bovis´ new boss, Greg Fitzgerald, and his spouse picked up a large batch of shares in the company he now calls home.

On 21 April, Fitzgerald bought 134,369 shares at an individual price of 926.0p for a total transaction amount of £1,243,730.17.

Fiztgerald may be almost uniquely placed to judge the value of Bovis Homes' shares, after all he was hired on the same day that the board of his previous employer, with him at the helm, called-off its attempted take-over of Bovis.

In turn, Galliford's decision to throw in the towel followed Redrow's decision the week before to do the same.

While discussions between the two were "largely constructive", Galliford said it had become clear that it is not possible to secure the support of the board of Bovis on terms that represent the best interests of its shareholders.

For her part, his wife, Judith Fitzgerald bought 15,825 shares, albeit at a slightly better price, 920.00p, for £145,590.00.

Analysts at Jefferies were likely in agreement with Fitzgerald.

Just three days before, they revised their target price on the builder's shares from 771.0p to 1,041p.

They told clients: "we believe the UK housebuilding sector is in rude health. It seems to have brushed off the first Brexit challenge and orderbooks are strong as we start to delve into Article 50. Help to Buy has created a two-speed housing market with the new build sector the beneficiary until at least 2021. With highly visible cashflows we believe that cyclicality is on hold for at least a couple of years and we are comfortable in raising our price targets as a result."

Top Director Buys

Bovis Homes Group (BVS)
Director name: Fitzgerald,Greg
Amount purchased: 134,369 @ 925.61p
Value: £1,243,730.17

Bovis Homes Group (BVS)
Director name: Fitzgerald,Greg
Amount purchased: 15,825 @ 920.00p
Value: £145,590.00

Chaarat Gold Holdings Ltd. (di) (CGH)
Director name: Andersson,Martin
Amount purchased: 150,000 @ 21.00p
Value: £31,500.00

Chaarat Gold Holdings Ltd. (di) (CGH)
Director name: Andersson,Martin
Amount purchased: 100,000 @ 20.95p
Value: £20,950.00

Chaarat Gold Holdings Ltd. (di) (CGH)
Director name: Andersson,Martin
Amount purchased: 100,000 @ 20.70p
Value: £20,700.00

Chaarat Gold Holdings Ltd. (di) (CGH)
Director name: Andersson,Martin
Amount purchased: 50,000 @ 21.45p
Value: £10,725.00

Chaarat Gold Holdings Ltd. (di) (CGH)
Director name: Andersson,Martin
Amount purchased: 50,000 @ 21.00p
Value: £10,500.00

Oxford Biomedica (OXB)
Director name: Tallarigo ,Lorenzo
Amount purchased: 54,090 @ 4.90p
Value: £2,650.41

Personal Assets Trust (PNL)
Director name: Sharp,Jean
Amount purchased: 4 @ 40,649.02p
Value: £1,625.96

Tesco (TSCO)
Director name: Stewart,Alan
Amount purchased: 79 @ 173.93p
Value: £137.41