Valaris Limited (NYSE:VAL) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its holdings in shares of Valaris Limited (NYSE:VAL - Free Report) by 79.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 151,198 shares of the company's stock after selling 596,238 shares during the quarter. Principal Financial Group Inc. owned 0.21% of Valaris worth $6,689,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in Valaris in the 3rd quarter valued at $25,000. Blue Trust Inc. boosted its stake in shares of Valaris by 41.0% during the fourth quarter. Blue Trust Inc. now owns 1,758 shares of the company's stock valued at $78,000 after purchasing an additional 511 shares during the period. KBC Group NV grew its holdings in shares of Valaris by 63.3% in the fourth quarter. KBC Group NV now owns 2,929 shares of the company's stock worth $130,000 after purchasing an additional 1,135 shares during the last quarter. Spire Wealth Management increased its stake in Valaris by 24.3% in the 4th quarter. Spire Wealth Management now owns 4,206 shares of the company's stock worth $186,000 after buying an additional 821 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Valaris during the 4th quarter valued at about $243,000. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Down 7.9 %

Shares of NYSE:VAL traded down $2.83 on Monday, reaching $32.87. The company had a trading volume of 4,179,250 shares, compared to its average volume of 1,239,576. The company has a current ratio of 1.59, a quick ratio of 1.61 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $2.33 billion, a PE ratio of 6.39 and a beta of 1.10. Valaris Limited has a 52-week low of $32.69 and a 52-week high of $84.20. The firm's 50 day simple moving average is $45.01 and its 200-day simple moving average is $49.59.

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

Analyst Upgrades and Downgrades

VAL has been the topic of a number of research reports. Barclays reduced their target price on shares of Valaris from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, February 25th. Susquehanna dropped their price objective on Valaris from $50.00 to $47.00 and set a "neutral" rating on the stock in a research note on Friday, February 21st. Citigroup lifted their target price on Valaris from $47.00 to $48.00 and gave the company a "neutral" rating in a research report on Thursday, January 30th. Evercore ISI downgraded Valaris from an "outperform" rating to an "in-line" rating and dropped their price target for the stock from $87.00 to $59.00 in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. began coverage on Valaris in a research note on Friday, December 6th. They set an "underweight" rating and a $40.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $55.00.

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.