Canada Pension Plan Investment Board Grows Stake in Valaris Limited (NYSE:VAL)

Canada Pension Plan Investment Board boosted its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 221.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 302,200 shares of the company's stock after purchasing an additional 208,200 shares during the quarter. Canada Pension Plan Investment Board owned about 0.42% of Valaris worth $13,369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC increased its holdings in Valaris by 518.3% in the 4th quarter. Sterling Capital Management LLC now owns 742 shares of the company's stock valued at $33,000 after acquiring an additional 622 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Valaris by 395.0% in the fourth quarter. Signaturefd LLC now owns 1,475 shares of the company's stock worth $65,000 after purchasing an additional 1,177 shares during the last quarter. Blue Trust Inc. lifted its position in shares of Valaris by 41.0% in the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock worth $78,000 after buying an additional 511 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in Valaris by 326.9% during the 4th quarter. Quadrant Capital Group LLC now owns 1,874 shares of the company's stock valued at $83,000 after buying an additional 1,435 shares in the last quarter. Finally, Covestor Ltd increased its stake in Valaris by 40.1% in the 4th quarter. Covestor Ltd now owns 1,911 shares of the company's stock worth $85,000 after acquiring an additional 547 shares during the last quarter. 96.74% of the stock is currently owned by institutional investors.

Valaris Stock Down 1.4 %

NYSE VAL traded down $0.43 on Wednesday, reaching $30.90. 1,519,530 shares of the stock traded hands, compared to its average volume of 1,474,487. Valaris Limited has a 12 month low of $27.15 and a 12 month high of $84.20. The company has a market cap of $2.19 billion, a price-to-earnings ratio of 6.01 and a beta of 1.06. The company has a fifty day moving average price of $36.27 and a 200-day moving average price of $43.51. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.61 and a current ratio of 1.59.

Valaris (NYSE:VAL - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $1.88 EPS for the quarter, beating analysts' consensus estimates of $1.20 by $0.68. The business had revenue of $584.40 million for the quarter, compared to the consensus estimate of $578.01 million. Valaris had a net margin of 15.81% and a return on equity of 17.40%. As a group, research analysts forecast that Valaris Limited will post 3.96 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on VAL. Barclays lowered their price objective on shares of Valaris from $46.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, April 7th. Citigroup reduced their price objective on Valaris from $48.00 to $44.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 19th. StockNews.com raised Valaris to a "sell" rating in a research note on Thursday, February 20th. Susquehanna decreased their price target on Valaris from $47.00 to $34.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Finally, Evercore ISI downgraded Valaris from an "outperform" rating to an "in-line" rating and lowered their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to data from MarketBeat, Valaris has an average rating of "Hold" and a consensus price target of $50.33.

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.