Would anyone know why there has been such a large number of shares sold and no buying? Is there something we are not aware of?

Peel Hunt today initiates coverage of Costain Group PLC (LON:COST) with a buy investment rating and price target of 450p.

StockMarketWire.com
Costain says first half trading has been strong and the group is on course to deliver a result for the year in line with the board's expectations.

The group says it has maintained its record order book which, at £3.9 billion, is also over 5% higher than the £3.7 billion recorded at 30 June 2015. Repeat orders continue to represent more than 90% of the order book, reflecting the strength of Costain's long term relationships with its customers.

The group also has a preferred bidder position of over £400 million and tendering levels remain high.

The group says its unique and focused 'Engineering Tomorrow' strategy has successfully positioned the business to provide the range of innovative integrated services demanded by its major customers who are spending billions of pounds on projects, underpinned by legislation and regulation in the UK, upgrading and renewing the country's energy, water and transportation infrastructures.

StockMarketWire.com
Costain, the engineering solutions provider, reports a strong first half performance with a 21% increase in underlying operating profit, a record order book and a 15% increase in the interim dividend.

Revenue increased to £791.4 million (2015: £621.1 million) while underlying operating profit rose by 21% to £15.8 million (2015: £13.1 million) and the order book increased to a record £3.9 billion, up 5% on June 2015.

Costain says outlook is positive with:
- Over £1.4 billion of revenue secured for FY 2016 by 30 June (2015: over £1.2 billion secured for FY 2015)

- Net cash balance of £69.2 million (2015: £126.8 million) and increased banking facilities

The interim dividend is increased by 15% to 4.3 pence per share (2015: 3.75 pence).

Chief executive Andrew Wyllie said: "We have delivered another strong performance in the first half of the year, with a 21% increase in underlying operating profit, and our order book is at a record level. The dividend has been increased 15% in line with our progressive policy. "These are exciting times as billions of pounds are being spent upgrading and renewing the country's energy, water and transportation infrastructure. "There is a revolution in the deployment of technology-led innovative solutions to meet the increasingly complex requirements of our national infrastructure needs, and we are continuing to rapidly transform the Costain business to be at the heart of the opportunity this presents. "Costain remains on course to deliver a result for the year in line with the Board's expectations."

StockMarketWire.com
Costain has been awarded a contract worth £113 million by National Grid to upgrade its Peterborough and Huntingdon compressor stations.

The programme of work is part of National Grid's Emissions Reduction Project and will conclude in 2021. Following completion of a successful Front End Engineering Design (FEED) project, Costain will now undertake the detailed design, decommissioning, build and re-commissioning of the two compressor stations.

The work will ensure both compressor stations comply with the Industrial Emissions Directive and Pollution Prevention and Control regulations. The project will also increase system resilience and reduce overall risk on the National Transmission System by replacing aging assets with modern, efficient equipment.

Chief executive Andrew Wyllie said: "This is another example of Costain's strategy in action. From design and delivery to programme management, we are providing a full range of engineering solutions to National Grid to help them meet national needs by providing a secure and sustainable energy supply."

StockMarketWire.com
Costain has secured a place on Transport for London's surface transport major projects framework, which covers the delivery, upgrade and maintenance of bridges, tunnels and highways across London and expects full year rtesults to be in line with forecasts.

Costain is one of three suppliers for the four-year Framework, which is valued at up to £500m in total, and includes design, planning and complex project delivery work. The Framework may be extended by two years at TfL's discretion.

During a previous Framework Costain carried out the strengthening of the Hammersmith Flyover, a highly complex project which was delivered ahead of schedule. Chief executive Andrew Wyllie said: "We are delighted that TfL has again chosen Costain as a delivery partner for the Major Projects Framework. It is a reflection of our strong track record in applying innovative techniques in highways."

The group also said that since the announcement of its interim results on 24 August, it has continued to perform well and expects to deliver full-year results in line with the Board's expectations. The group says its unique and focused 'Engineering Tomorrow' strategy is successfully positioning the business to provide the range of innovative integrated services demanded by its major customers who are spending billions of pounds in the UK upgrading and renewing the country's energy, water and transportation infrastructures.

Liberum Capital today reaffirms its buy investment rating on Costain Group PLC (LON:COST) and raised its price target to 430p (from 405p)

StockMarketWire.com
Costain Group's current trading is in line with expectations, shareholders at the annual general meeting today will be told.

Chief executive Andrew Wyllie will review the past year in a short presentation and tell shareholders that the board remains confident in the future and looks forward to reporting on further progress in 2017.

StockMarketWire.com
Costain is on track to meet full-year forecasts after a strong first half performance with a 34% growth in underlying operating profit and a 10% interim dividend increase.

Revenue, including its share of joint ventures and associates, increased to £874.5 million (2016: £791.4 million) while underlying operating profits rose to £21.2 million.

The group said the order book stood at £3.7 billion, of which over 90% continued to be repeat business (30 June 2016: £3.9 billion), and tendering levels remained high.

It said over £1.5 billion of revenue had been secured for FY 2017 at 30 June (2016: over £1.4 billion secured for FY 2016).

Chief executive Andrew Wyllie said: "We delivered another strong performance in the first half of the year with 34% growth in underlying operating profit and a 10% interim dividend increase.

"We are transforming rapidly to differentiate Costain as the UK's leading smart infrastructure solutions company.

"We are delivering technology-based solutions demanded by our clients who are spending billions of pounds, underpinned by legislation and regulation, to meet ever more complex challenges to enhance the nation's infrastructure.

"Costain is on course to deliver results for the year in line with the Board's expectations."

StockMarketWire.com
Infrastructure solutions company Costain said Wednesday it had been awarded a six-year framework contract by Highways England to deliver the regional investment programme.

The combined value to Costain over the six-period was expected to be about £1.5bn.

Under the terms of the contract, Costain agreed to deliver the regional investment programme during road period 1, from 2015-2020, and road period 2, from 2020-2025.

The work to be delivered under the framework formed part of Highways England's ongoing objectives to improve safety, increase capacity and to improve the user experience across its network.