Kestra Investment Management LLC Has $163,000 Position in Vulcan Materials Company $VMC

Key Points

• Kestra Investment Management LLC reduced its stake in Vulcan Materials Company by 59.3% in Q1, now holding 699 shares worth $163,000.
• Other institutional investors like Vanguard Group Inc. and JPMorgan Chase & Co. increased their holdings, with Vanguard owning over 16 million shares, valued at nearly $3.9 billion.
• Vulcan Materials reported earnings of $2.45 per share for the last quarter, falling short of the consensus estimate of $2.65, with a revenue of $2.10 billion.

Kestra Investment Management LLC lowered its position in Vulcan Materials Company (NYSE:VMC - Free Report) by 59.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 699 shares of the construction company's stock after selling 1,020 shares during the period. Kestra Investment Management LLC's holdings in Vulcan Materials were worth $163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Vulcan Materials by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 16,699,662 shares of the construction company's stock worth $3,896,031,000 after purchasing an additional 347,155 shares during the period. JPMorgan Chase & Co. grew its holdings in Vulcan Materials by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 6,967,777 shares of the construction company's stock valued at $1,625,583,000 after buying an additional 370,434 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Vulcan Materials by 7.4% during the 1st quarter. Principal Financial Group Inc. now owns 6,507,892 shares of the construction company's stock valued at $1,518,291,000 after buying an additional 445,691 shares in the last quarter. Stockbridge Partners LLC grew its holdings in Vulcan Materials by 11.3% during the 4th quarter. Stockbridge Partners LLC now owns 1,746,482 shares of the construction company's stock valued at $449,248,000 after buying an additional 177,918 shares in the last quarter. Finally, Alkeon Capital Management LLC grew its holdings in shares of Vulcan Materials by 4.4% during the first quarter. Alkeon Capital Management LLC now owns 1,338,346 shares of the construction company's stock worth $312,236,000 after purchasing an additional 56,345 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

VMC has been the subject of several research reports. Barclays upped their target price on Vulcan Materials from $285.00 to $305.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Morgan Stanley reduced their target price on shares of Vulcan Materials from $303.00 to $285.00 and set an "equal weight" rating on the stock in a research report on Monday, July 28th. Citigroup restated a "buy" rating and set a $321.00 price target (up from $305.00) on shares of Vulcan Materials in a report on Monday, August 4th. Royal Bank Of Canada dropped their target price on Vulcan Materials from $286.00 to $279.00 and set a "sector perform" rating on the stock in a research report on Friday, August 1st. Finally, JPMorgan Chase & Co. boosted their price objective on Vulcan Materials from $285.00 to $330.00 and gave the company an "overweight" rating in a research note on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $308.36.

Vulcan Materials Price Performance

Shares of VMC stock opened at $292.30 on Wednesday. Vulcan Materials Company has a twelve month low of $215.08 and a twelve month high of $299.29. The stock has a market capitalization of $38.62 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 2.44 and a beta of 0.86. The stock has a fifty day simple moving average of $280.13 and a two-hundred day simple moving average of $261.14. The company has a current ratio of 1.67, a quick ratio of 1.13 and a debt-to-equity ratio of 0.52.

Vulcan Materials (NYSE:VMC - Get Free Report) last issued its earnings results on Thursday, July 31st. The construction company reported $2.45 earnings per share for the quarter, missing the consensus estimate of $2.65 by ($0.20). Vulcan Materials had a return on equity of 12.81% and a net margin of 12.52%.The firm had revenue of $2.10 billion during the quarter, compared to analysts' expectations of $2.23 billion. During the same quarter in the prior year, the company posted $2.35 earnings per share. Vulcan Materials's quarterly revenue was up 4.4% compared to the same quarter last year. On average, analysts predict that Vulcan Materials Company will post 8.69 EPS for the current fiscal year.

Vulcan Materials Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 3rd. Shareholders of record on Thursday, August 14th were issued a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Thursday, August 14th. Vulcan Materials's dividend payout ratio is currently 27.37%.

About Vulcan Materials

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.

Want to see what other hedge funds are holding VMC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vulcan Materials Company (NYSE:VMC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.