Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Valaris Limited (NYSE:VAL)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Valaris Limited (NYSE:VAL) by 4.0% during the 4th quarter, Holdings Channel reports. The fund owned 28,022 shares of the company’s stock after purchasing an additional 1,080 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Valaris were worth $1,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Fortis Capital Advisors LLC purchased a new stake in shares of Valaris in the 1st quarter valued at $26,000. Belpointe Asset Management LLC purchased a new stake in Valaris during the first quarter worth $27,000. Fifth Third Bancorp boosted its holdings in Valaris by 120.1% during the third quarter. Fifth Third Bancorp now owns 394 shares of the company’s stock worth $30,000 after buying an additional 215 shares in the last quarter. Princeton Global Asset Management LLC purchased a new stake in Valaris during the third quarter worth $37,000. Finally, Covestor Ltd raised its position in Valaris by 184.0% during the third quarter. Covestor Ltd now owns 693 shares of the company’s stock worth $52,000 after acquiring an additional 449 shares during the period. 96.74% of the stock is owned by hedge funds and other institutional investors.

Valaris Price Performance

Valaris stock opened at $68.48 on Friday. Valaris Limited has a 12-month low of $54.13 and a 12-month high of $78.92. The stock has a market cap of $4.96 billion, a P/E ratio of 5.86 and a beta of 1.13. The company has a 50-day moving average price of $69.35 and a 200 day moving average price of $68.19. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 0.54.

Valaris (NYSE:VAL) last released its quarterly earnings data on Wednesday, February 21st. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.29 by $0.32. Valaris had a net margin of 48.50% and a return on equity of 5.71%. The firm had revenue of $483.80 million during the quarter, compared to analysts’ expectations of $484.00 million. Sell-side analysts anticipate that Valaris Limited will post 4.75 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. StockNews.com upgraded shares of Valaris to a “sell” rating in a research report on Friday, March 15th. TheStreet upgraded shares of Valaris from a “c” rating to a “b-” rating in a research report on Thursday, February 22nd. Evercore ISI reduced their target price on shares of Valaris from $107.00 to $105.00 and set an “outperform” rating for the company in a research report on Friday, February 23rd. Finally, Barclays reduced their target price on shares of Valaris from $105.00 to $102.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $100.00.

Valaris 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.