NewEdge Advisors LLC Reduces Stock Holdings in Valaris Limited $VAL

NewEdge Advisors LLC reduced its position in shares of Valaris Limited (NYSE:VAL) by 35.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,844 shares of the company’s stock after selling 6,005 shares during the quarter. NewEdge Advisors LLC’s holdings in Valaris were worth $1,063,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Janus Henderson Group PLC grew its position in Valaris by 103.4% during the first quarter. Janus Henderson Group PLC now owns 55,868 shares of the company’s stock valued at $5,481,000 after buying an additional 28,400 shares during the period. Amundi bought a new position in Valaris in the first quarter worth approximately $787,000. California State Teachers Retirement System boosted its stake in shares of Valaris by 23.1% during the 1st quarter. California State Teachers Retirement System now owns 74,181 shares of the company’s stock worth $7,273,000 after acquiring an additional 13,897 shares during the last quarter. Quantinno Capital Management LP boosted its stake in shares of Valaris by 7.1% during the 1st quarter. Quantinno Capital Management LP now owns 13,589 shares of the company’s stock worth $1,332,000 after acquiring an additional 901 shares during the last quarter. Finally, Whitebox Advisors LLC bought a new stake in shares of Valaris during the 1st quarter valued at $57,249,000. Institutional investors own 96.74% of the company’s stock.

Valaris Trading Up 1.8%

Valaris stock opened at $87.17 on Tuesday. Valaris Limited has a 12-month low of $43.53 and a 12-month high of $114.12. The firm has a market capitalization of $6.05 billion, a price-to-earnings ratio of 6.51 and a beta of 0.94. The firm has a 50 day moving average of $79.38 and a 200 day moving average of $87.61. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.34.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.41. The business had revenue of $539.20 million for the quarter, compared to the consensus estimate of $488.52 million. Valaris had a net margin of 43.95% and a return on equity of 9.25%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.61 earnings per share. As a group, research analysts predict that Valaris Limited will post 3.18 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on VAL shares. Susquehanna upped their price objective on Valaris from $75.00 to $80.00 and gave the stock a “neutral” rating in a research note on Friday, August 7th. Weiss Ratings reiterated a “hold (c)” rating on shares of Valaris in a research report on Monday, August 3rd. Eight equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Reduce” and a consensus price target of $60.94.

About Valaris

Valaris PLC is a leading provider of offshore drilling services to the global energy industry. The company operates a diverse fleet of mobile offshore drilling units, including drillships, semisubmersibles and jackup rigs, designed to support exploration and production activities in deepwater, ultra-deepwater and harsh‐environment settings. Valaris serves a wide range of international oil and gas customers, offering turnkey drilling solutions, project management and advanced technology integration to enhance operational efficiency and safety.

Headquartered in Houston, Texas, Valaris maintains a significant presence in key offshore basins around the world.