Valaris Limited (NYSE:VAL) Shares Bought by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D grew its holdings in Valaris Limited (NYSE:VAL) by 19.8% during the third quarter, HoldingsChannel reports. The firm owned 31,391 shares of the company’s stock after acquiring an additional 5,184 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Valaris were worth $1,750,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Arizona State Retirement System lifted its position in Valaris by 1.2% during the second quarter. Arizona State Retirement System now owns 18,244 shares of the company’s stock worth $1,359,000 after buying an additional 214 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Valaris by 180.8% in the 1st quarter. EverSource Wealth Advisors LLC now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 235 shares during the last quarter. World Equity Group Inc. raised its holdings in shares of Valaris by 1.9% during the 2nd quarter. World Equity Group Inc. now owns 12,827 shares of the company’s stock worth $956,000 after acquiring an additional 238 shares during the period. Victory Capital Management Inc. boosted its position in shares of Valaris by 5.0% during the 2nd quarter. Victory Capital Management Inc. now owns 5,080 shares of the company’s stock valued at $378,000 after acquiring an additional 243 shares during the last quarter. Finally, Deane Retirement Strategies Inc. grew its holdings in shares of Valaris by 0.6% in the third quarter. Deane Retirement Strategies Inc. now owns 40,504 shares of the company’s stock valued at $2,259,000 after purchasing an additional 251 shares during the period. 96.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VAL. Susquehanna reduced their target price on shares of Valaris from $61.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, November 1st. Barclays decreased their price objective on Valaris from $61.00 to $59.00 and set an “overweight” rating on the stock in a report on Tuesday, November 5th. Benchmark cut Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Finally, Citigroup decreased their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $80.00.

Insider Activity

In other Valaris news, COO Gilles Luca sold 30,000 shares of the 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 sale, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. This represents a 21.69 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Davor Vukadin sold 15,403 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This trade represents a 53.60 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is currently owned by corporate insiders.

Valaris Stock Down 0.4 %

Shares of NYSE VAL opened at $48.30 on Tuesday. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $52.53 and its two-hundred day moving average is $64.44. Valaris Limited has a 52-week low of $47.87 and a 52-week high of $84.20. The firm has a market cap of $3.43 billion, a price-to-earnings ratio of 3.32 and a beta of 1.17.

Valaris Company 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.