Envestnet Portfolio Solutions Inc. Has $230,000 Stock Holdings in Valmont Industries, Inc. (NYSE:VMI)

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Valmont Industries, Inc. (NYSE:VMI) by 40.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 805 shares of the industrial products company’s stock after selling 546 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Valmont Industries were worth $230,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of VMI. Redwood Wealth Management Group LLC bought a new position in shares of Valmont Industries during the 1st quarter worth approximately $335,000. State of Alaska Department of Revenue raised its holdings in Valmont Industries by 2.6% in the 1st quarter. State of Alaska Department of Revenue now owns 2,347 shares of the industrial products company’s stock valued at $669,000 after acquiring an additional 60 shares during the period. Janney Montgomery Scott LLC lifted its holdings in Valmont Industries by 16.1% during the 1st quarter. Janney Montgomery Scott LLC now owns 1,490 shares of the industrial products company’s stock worth $425,000 after purchasing an additional 207 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Valmont Industries during the first quarter worth $569,000. Finally, Morey & Quinn Wealth Partners LLC increased its holdings in shares of Valmont Industries by 12.2% during the first quarter. Morey & Quinn Wealth Partners LLC now owns 920 shares of the industrial products company’s stock worth $263,000 after purchasing an additional 100 shares during the period. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Valmont Industries Stock Performance

Shares of VMI stock opened at $326.49 on Tuesday. The firm’s 50 day moving average is $314.97 and its 200 day moving average is $315.05. The company has a current ratio of 2.26, a quick ratio of 1.50 and a debt-to-equity ratio of 0.45. Valmont Industries, Inc. has a 12 month low of $250.07 and a 12 month high of $379.22. The stock has a market capitalization of $6.55 billion, a P/E ratio of 19.00 and a beta of 1.13.

Valmont Industries (NYSE:VMI) last posted its earnings results on Tuesday, April 22nd. The industrial products company reported $4.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.24 by $0.08. The business had revenue of $969.31 million for the quarter, compared to analysts’ expectations of $976.04 million. Valmont Industries had a net margin of 8.55% and a return on equity of 22.27%. On average, sell-side analysts anticipate that Valmont Industries, Inc. will post 18.07 earnings per share for the current year.

Valmont Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 27th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, June 27th. Valmont Industries’s payout ratio is currently 15.83%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus raised their target price on shares of Valmont Industries from $343.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. William Blair upgraded shares of Valmont Industries from a “market perform” rating to an “outperform” rating in a report on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Valmont Industries from a “hold” rating to a “buy” rating in a report on Saturday, May 31st.

Valmont Industries Company Profile

Valmont Industries, Inc operates as manufacturer of products and services for infrastructure and agriculture markets in the United States, Australia, Brazil, and internationally. It operates through two segments, Infrastructure and Agriculture. The company manufactures and distributes steel, pre-stressed concrete, composite structures for electrical transmission, substation, and distribution applications; and designs, engineers, and manufactures metal, steel, wood, aluminum, and composite poles and structures for lighting and transportation applications.