Mutual of America Capital Management LLC Cuts Stake in Valaris Limited (NYSE:VAL)

Mutual of America Capital Management LLC cut its position in shares of Valaris Limited (NYSE:VAL) by 4.3% in the second quarter, Holdings Channel.com reports. The institutional investor owned 72,959 shares of the company’s stock after selling 3,312 shares during the period. Mutual of America Capital Management LLC’s holdings in Valaris were worth $5,435,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of VAL. Lingotto Investment Management LLP lifted its stake in shares of Valaris by 3.6% during the 4th quarter. Lingotto Investment Management LLP now owns 3,003,740 shares of the company’s stock worth $205,966,000 after acquiring an additional 104,000 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Valaris by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock valued at $129,849,000 after buying an additional 77,490 shares in the last quarter. Condire Management LP boosted its stake in Valaris by 14.7% in the first quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock valued at $109,285,000 after acquiring an additional 186,076 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Valaris by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 828,385 shares of the company’s stock worth $62,344,000 after purchasing an additional 38,531 shares in the last quarter. 96.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

VAL has been the topic of several research reports. Benchmark reiterated a “buy” rating and issued a $90.00 price target on shares of Valaris in a report on Monday, August 5th. Pickering Energy Partners lowered Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Barclays reduced their target price on Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, Citigroup reduced their target price on shares of Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

Insider Activity

In related news, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now owns 108,342 shares in the company, valued at approximately $6,160,326.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The disclosure for this sale can be found here. Insiders own 0.12% of the company’s stock.

Valaris Price Performance

Shares of VAL stock opened at $55.31 on Friday. The firm’s 50-day moving average is $65.15 and its two-hundred day moving average is $69.80. Valaris Limited has a 12 month low of $53.06 and a 12 month high of $84.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. The company has a market capitalization of $4.01 billion, a PE ratio of 4.84 and a beta of 1.17.

Valaris (NYSE:VAL) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The firm had revenue of $610.10 million during the quarter, compared to the consensus estimate of $545.00 million. Analysts predict that Valaris Limited will post 4.37 earnings per share for the current year.

Valaris Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.