Canada Pension Plan Investment Board Invests $13.31 Million in Valaris Limited (NYSE:VAL)

Canada Pension Plan Investment Board bought a new stake in shares of Valaris Limited (NYSE:VAL) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 178,600 shares of the company’s stock, valued at approximately $13,306,000. Canada Pension Plan Investment Board owned 0.25% of Valaris as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Lingotto Investment Management LLP raised its stake in shares of Valaris by 1.2% during the second quarter. Lingotto Investment Management LLP now owns 3,040,610 shares of the company’s stock valued at $226,525,000 after purchasing an additional 36,870 shares during the period. Vanguard Group Inc. lifted its holdings in Valaris by 4.3% in the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock worth $129,849,000 after buying an additional 77,490 shares in the last quarter. Condire Management LP lifted its holdings in Valaris by 14.7% in the 1st quarter. Condire Management LP now owns 1,452,097 shares of the company’s stock worth $109,285,000 after buying an additional 186,076 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in Valaris by 23.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after buying an additional 225,283 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Valaris by 4.9% during the first quarter. Principal Financial Group Inc. now owns 828,385 shares of the company’s stock valued at $62,344,000 after acquiring an additional 38,531 shares in the last quarter. 96.74% of the stock is owned by institutional investors and hedge funds.

Valaris Stock Performance

Shares of VAL opened at $55.45 on Tuesday. The stock has a market capitalization of $4.02 billion, a PE ratio of 4.85 and a beta of 1.17. The business’s fifty day moving average price is $65.15 and its 200 day moving average price is $69.86. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73. Valaris Limited has a 12-month low of $53.06 and a 12-month high of $84.20.

Valaris (NYSE:VAL) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a net margin of 49.33% and a return on equity of 12.58%. The company had revenue of $610.10 million for the quarter, compared to the consensus estimate of $545.00 million. Equities research analysts forecast that Valaris Limited will post 4.37 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on VAL. Citigroup cut their price target on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research note on Thursday, September 12th. Pickering Energy Partners cut Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Barclays dropped their price target on shares of Valaris from $98.00 to $91.00 and set an “overweight” rating for the company in a research note on Friday, August 9th. Finally, Benchmark reiterated a “buy” rating and set a $90.00 price objective on shares of Valaris in a research note on Monday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Valaris presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.40.

Insider Buying and Selling at Valaris

In other news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the transaction, the senior vice president now directly owns 13,334 shares in the company, valued at approximately $755,237.76. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, COO Gilles Luca sold 30,000 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares in the company, valued at $6,160,326.12. The disclosure for this sale can be found here. 0.12% of the stock is currently owned by insiders.

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.