Envestnet Portfolio Solutions Inc. Lowers Stake in Vulcan Materials (NYSE:VMC)

Envestnet Portfolio Solutions Inc. reduced its holdings in shares of Vulcan Materials (NYSE:VMC) by 23.3% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 3,399 shares of the construction company’s stock after selling 1,033 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Vulcan Materials were worth $874,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its holdings in shares of Vulcan Materials by 16.5% in the fourth quarter. Geneos Wealth Management Inc. now owns 254 shares of the construction company’s stock valued at $65,000 after acquiring an additional 36 shares in the last quarter. Howard Capital Management Inc. boosted its holdings in shares of Vulcan Materials by 5.2% in the fourth quarter. Howard Capital Management Inc. now owns 906 shares of the construction company’s stock valued at $233,000 after acquiring an additional 45 shares in the last quarter. Washington Trust Advisors Inc. boosted its holdings in shares of Vulcan Materials by 30.0% in the fourth quarter. Washington Trust Advisors Inc. now owns 208 shares of the construction company’s stock valued at $54,000 after acquiring an additional 48 shares in the last quarter. Sound View Wealth Advisors Group LLC boosted its holdings in shares of Vulcan Materials by 4.3% in the fourth quarter. Sound View Wealth Advisors Group LLC now owns 1,169 shares of the construction company’s stock valued at $301,000 after acquiring an additional 48 shares in the last quarter. Finally, New York Life Investment Management LLC boosted its holdings in shares of Vulcan Materials by 0.3% in the fourth quarter. New York Life Investment Management LLC now owns 19,618 shares of the construction company’s stock valued at $5,046,000 after acquiring an additional 55 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James lowered their target price on shares of Vulcan Materials from $298.00 to $295.00 and set an “outperform” rating on the stock in a report on Thursday, January 16th. JPMorgan Chase & Co. raised shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and lowered their target price for the company from $290.00 to $285.00 in a report on Wednesday, March 19th. Morgan Stanley lifted their target price on shares of Vulcan Materials from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, February 24th. Stephens reaffirmed an “overweight” rating and issued a $325.00 target price on shares of Vulcan Materials in a report on Thursday, January 2nd. Finally, Citigroup reduced their price objective on shares of Vulcan Materials from $325.00 to $301.00 and set a “buy” rating for the company in a research note on Monday, January 6th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $302.67.

Vulcan Materials Stock Performance

Shares of VMC opened at $234.55 on Monday. The company has a current ratio of 1.83, a quick ratio of 2.02 and a debt-to-equity ratio of 0.60. The stock has a market cap of $30.99 billion, a P/E ratio of 34.24, a PEG ratio of 2.03 and a beta of 0.80. The company has a 50-day moving average of $256.58 and a two-hundred day moving average of $260.60. Vulcan Materials has a 12-month low of $215.08 and a 12-month high of $298.31.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.41. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same quarter in the previous year, the business posted $1.46 earnings per share. As a group, research analysts predict that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 24th. Stockholders of record on Monday, March 10th will be issued a dividend of $0.49 per share. The ex-dividend date of this dividend is Monday, March 10th. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 dividend on an annualized basis and a dividend yield of 0.84%. Vulcan Materials’s payout ratio is 28.61%.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.