The Manufacturers Life Insurance Company Acquires 10,375 Shares of Borr Drilling Limited (NYSE:BORR)

The Manufacturers Life Insurance Company increased its holdings in Borr Drilling Limited (NYSE:BORR) by 10.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 109,727 shares of the company’s stock after purchasing an additional 10,375 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Borr Drilling were worth $708,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Point72 DIFC Ltd bought a new stake in Borr Drilling during the 2nd quarter valued at approximately $30,000. Covestor Ltd boosted its position in Borr Drilling by 31,600.0% during the 1st quarter. Covestor Ltd now owns 5,706 shares of the company’s stock valued at $39,000 after acquiring an additional 5,688 shares in the last quarter. Signaturefd LLC boosted its position in Borr Drilling by 666.6% during the 2nd quarter. Signaturefd LLC now owns 7,865 shares of the company’s stock valued at $51,000 after acquiring an additional 6,839 shares in the last quarter. Ballentine Partners LLC bought a new stake in Borr Drilling during the 1st quarter valued at approximately $88,000. Finally, SG Americas Securities LLC bought a new stake in Borr Drilling during the 1st quarter valued at approximately $89,000. 83.12% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Evercore ISI raised Borr Drilling from an “in-line” rating to an “outperform” rating and set a $9.00 price target on the stock in a research report on Friday, September 13th.

Borr Drilling Price Performance

Shares of BORR opened at $5.29 on Tuesday. The firm has a market cap of $806.73 million, a PE ratio of 31.12 and a beta of 2.99. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.75. The firm has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $6.04. Borr Drilling Limited has a 1-year low of $5.09 and a 1-year high of $7.61.

Borr Drilling (NYSE:BORR) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter. The business had revenue of $271.90 million during the quarter. Borr Drilling had a net margin of 8.15% and a return on equity of 7.69%.

Borr Drilling Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Stockholders of record on Thursday, August 22nd were paid a $0.10 dividend. The ex-dividend date was Thursday, August 22nd. This represents a $0.40 annualized dividend and a dividend yield of 7.56%. Borr Drilling’s dividend payout ratio (DPR) is 58.82%.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore shallow-water drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.