Canada Pension Plan Investment Board Buys New Stake in Valmont Industries, Inc. $VMI

Key Points

• Canada Pension Plan Investment Board purchased 2,920 shares of Valmont Industries in the second quarter, valued at approximately $1.69 million. Institutional investors collectively own 87.84% of the company.
• Valmont reported quarterly EPS of $6.14, exceeding estimates of $5.80, while revenue rose 6.5% year over year to $1.12 billion. Analysts expect full-year EPS of approximately $23.08.
• The company declared a quarterly dividend of $0.77 per share, representing an annualized payout of $3.08 and a 0.7% yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $587.

Canada Pension Plan Investment Board purchased a new position in Valmont Industries, Inc. (NYSE:VMI - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,920 shares of the industrial products company's stock, valued at approximately $1,687,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Valmont Industries in the 2nd quarter valued at approximately $28,000. Elyxium Wealth LLC acquired a new position in shares of Valmont Industries in the 4th quarter worth approximately $27,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Valmont Industries during the 4th quarter worth approximately $27,000. Elevation Wealth Partners LLC lifted its position in shares of Valmont Industries by 179.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 67 shares of the industrial products company's stock worth $39,000 after buying an additional 43 shares during the period. Finally, Leonteq Securities AG bought a new stake in Valmont Industries in the fourth quarter valued at $30,000. Institutional investors own 87.84% of the company's stock.

Insider Activity at Valmont Industries

In related news, CFO John L. Schwietz purchased 208 shares of the business's stock in a transaction dated Thursday, July 23rd. The shares were bought at an average price of $486.14 per share, with a total value of $101,117.12. Following the purchase, the chief financial officer directly owned 2,992 shares in the company, valued at $1,454,530.88. This trade represents a 7.47% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Theodor Werner Freye sold 800 shares of the firm's stock in a transaction on Monday, July 27th. The stock was sold at an average price of $495.00, for a total value of $396,000.00. Following the completion of the transaction, the director owned 2,805 shares in the company, valued at $1,388,475. This represents a 22.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 1.42% of the company's stock.

Valmont Industries Stock Performance

Valmont Industries stock opened at $469.04 on Tuesday. Valmont Industries, Inc. has a 12-month low of $360.41 and a 12-month high of $585.71. The stock has a market capitalization of $9.06 billion, a price-to-earnings ratio of 18.26, a P/E/G ratio of 1.09 and a beta of 1.35. The company has a quick ratio of 1.55, a current ratio of 2.35 and a debt-to-equity ratio of 0.42. The stock has a 50-day simple moving average of $513.65 and a 200 day simple moving average of $486.36.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its earnings results on Tuesday, July 21st. The industrial products company reported $6.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.80 by $0.34. Valmont Industries had a net margin of 11.70% and a return on equity of 25.57%. The company had revenue of $1.12 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same period in the prior year, the business earned $4.88 earnings per share. Valmont Industries's quarterly revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Valmont Industries, Inc. will post 23.08 earnings per share for the current fiscal year.

Valmont Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Friday, September 25th will be given a dividend of $0.77 per share. The ex-dividend date is Friday, September 25th. This represents a $3.08 dividend on an annualized basis and a yield of 0.7%. Valmont Industries's dividend payout ratio is presently 11.99%.

Analysts Set New Price Targets

Several research analysts have issued reports on VMI shares. JPMorgan Chase & Co. increased their price objective on Valmont Industries from $600.00 to $620.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Weiss Ratings downgraded shares of Valmont Industries from a "buy (b)" rating to a "buy (b-)" rating in a research note on Friday, August 14th. Stifel Nicolaus upped their target price on shares of Valmont Industries from $645.00 to $678.00 and gave the stock a "buy" rating in a report on Monday, July 20th. Zacks Research cut shares of Valmont Industries from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 20th. Finally, Wall Street Zen downgraded shares of Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Valmont Industries currently has a consensus rating of "Moderate Buy" and a consensus target price of $587.00.

Valmont Industries Company Profile

Valmont Industries, Inc NYSE: VMI is a diversified industrial manufacturer specializing in infrastructure and agricultural products. Headquartered in Omaha, Nebraska, the company engages in the design, production and distribution of engineered products that support water management, power transmission, lighting and traffic infrastructure. Valmont's solutions range from center-pivot and lateral-move irrigation systems to utility poles, transmission towers, lighting structures and highway traffic signal support structures.

The company operates through several core business segments.

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