PNC Financial Services Group Inc. Has $695,000 Stake in Valvoline Inc. (NYSE:VVV)

PNC Financial Services Group Inc. reduced its holdings in shares of Valvoline Inc. (NYSE:VVV) by 4.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,493 shares of the basic materials company’s stock after selling 796 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Valvoline were worth $695,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in shares of Valvoline by 19,218.1% during the 4th quarter. Wellington Management Group LLP now owns 3,735,549 shares of the basic materials company’s stock worth $140,382,000 after buying an additional 3,716,212 shares during the last quarter. Congress Asset Management Co. MA acquired a new position in Valvoline during the fourth quarter valued at approximately $123,526,000. Norges Bank bought a new position in Valvoline in the fourth quarter valued at approximately $61,656,000. Fiduciary Management Inc. WI increased its position in shares of Valvoline by 55.0% during the 4th quarter. Fiduciary Management Inc. WI now owns 3,055,520 shares of the basic materials company’s stock worth $114,826,000 after purchasing an additional 1,083,722 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in shares of Valvoline by 260.3% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,225,486 shares of the basic materials company’s stock worth $39,510,000 after purchasing an additional 885,342 shares during the last quarter. Institutional investors own 96.13% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on VVV shares. Piper Sandler assumed coverage on Valvoline in a report on Wednesday, June 12th. They issued an “overweight” rating and a $49.00 price objective for the company. Mizuho began coverage on shares of Valvoline in a research note on Tuesday, March 19th. They set a “buy” rating and a $50.00 price objective on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $48.00 target price on shares of Valvoline in a report on Friday, June 7th. Finally, Citigroup lifted their price target on Valvoline from $36.00 to $45.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.88.

Valvoline Stock Performance

Shares of NYSE:VVV opened at $42.13 on Wednesday. The company’s 50 day simple moving average is $41.71 and its 200 day simple moving average is $40.48. The stock has a market capitalization of $5.43 billion, a price-to-earnings ratio of 33.44 and a beta of 1.44. Valvoline Inc. has a 1 year low of $29.15 and a 1 year high of $45.37. The company has a debt-to-equity ratio of 15.83, a current ratio of 0.73 and a quick ratio of 0.69.

Valvoline (NYSE:VVV) last issued its earnings results on Wednesday, May 8th. The basic materials company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.36 by $0.01. The firm had revenue of $388.70 million during the quarter, compared to the consensus estimate of $390.75 million. Valvoline had a return on equity of 136.59% and a net margin of 11.78%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.23 earnings per share. As a group, research analysts predict that Valvoline Inc. will post 1.61 EPS for the current fiscal year.

Valvoline Profile

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.