FTSE 250 movers: Marshalls slides on RBC TP cut; Quilter jumps on net inflows

(Sharecast News) - FTSE 250 (MCX) 22,973.17 0.01%

Marshalls shares fell as RBC lowered its price target to 170p from 195p on reduced estimates and a lower mid-term margin assumption.

"Marshalls is facing a cyclical downturn in its new build housing (c.40% of sales) and residential RMI (c.20%) end-markets. We calculate a wide mid-term guidance range of c.£110-145m (3-5 years). We think proof of concept will be required for the market to value a more optimistic scenario, mainly derived from a successful turnaround in Landscape Products," the broker said in a note to clients.

"Marley will also need to demonstrate it can maintain current strong margins in the face of increasing competition. Incremental growth drivers include solar and concrete bricks, alongside a successful repositioning of Water Management.

Wealth management firm Quilter reported record quarterly core net inflows in the first three months of 2026, topping £3bn for the first time as momentum continued across the business.

Quilter said on Wednesday that core net inflows had hit £3.1bn in the first quarter, up 35% year‑on‑year and equivalent to 9% of opening assets on an annualised basis, while assets under management and administration stood at £141.9bn at 31 March.

The FTSE 250-listed firm said total net inflows of £2.86bn represented 11% of opening AuMA, compared with £2.20bn, or 10%, a year earlier. However, its record inflows were largely offset by adverse market movements around the quarter‑end due to geopolitical volatility.

Quilter said its IFA channel had continued to perform strongly, with gross inflows onto the platform rising 22% year‑on‑year and net inflows up 24% to £1.94bn. In its high net worth segment, quarterly gross inflows of £944m were well ahead of recent run‑rates, while net inflows of £214m represented 3% of opening assets and were 80% higher than a year earlier.

Annualised gross sales per Quilter adviser rose 15% year‑on‑year to £3.9m in the quarter.

Chief executive Steven Levin said: "I'm really pleased with Quilter's continued momentum in the first quarter of 2026, building upon our very strong end to 2025. We delivered a record quarter for net inflows, surpassing the £3bn core net inflow threshold for the first time, with this representing 9% of opening assets (on an annualised basis) versus 8% for Q1 2025 and 2025 as a whole.

"I am particularly delighted with the continued momentum demonstrated by our Platform with net inflows 23% higher in the first quarter of 2026. Net inflows in each month exceeded the comparable period in 2025, and ahead of the tax year end in March, we delivered our highest ever monthly level of gross flows."

Oil stocks rose in line with higher crude prices. Harbour and Ithaca Energy were both up.

FTSE 250 - Risers

Ceres Power Holdings (CWR) 459.80p 6.47% Quilter (QLT) 190.60p 5.38% Ithaca Energy (ITH) 265.90p 4.57% Harbour Energy (HBR) 285.60p 3.11% W.A.G Payment Solutions (EWG) 118.40p 2.96% Raspberry PI Holdings (RPI) 609.50p 2.92% Hays (HAS) 33.94p 2.23% Big Yellow Group (BYG) 913.00p 1.89% Target Healthcare Reit Ltd (THRL) 105.80p 1.73% Drax Group (DRX) 874.40p 1.67%

FTSE 250 - Fallers

SSP Group (SSPG) 184.30p -4.30% Shawbrook Group (SHAW) 359.25p -4.20% Oxford Nanopore Technologies (ONT) 119.80p -3.45% Marshalls (MSLH) 140.30p -3.43% GB Group (GBG) 215.50p -2.62% Pagegroup (PAGE) 136.60p -2.43% Kainos Group (KNOS) 894.50p -2.08% IntegraFin Holding (IHP) 341.50p -1.87% RTW Biotech Opportunities Ltd (RTW) 2.24p -1.75% CVS Group (CVSG) 1,216.00p -1.70%