PNC Financial Services Group Inc. Purchases 6,515 Shares of Valvoline (NYSE:VVV)

Key Points

• PNC Financial Services Group Inc. increased its stake in Valvoline by 30.2% in the first quarter, owning 28,101 shares valued at $978,000 as of the end of the quarter.
• Institutional investors and hedge funds now hold 96.13% of Valvoline's stock, indicating strong confidence in the company's market position.
• Valvoline reported earnings of $0.47 EPS, surpassing analysts' expectations, with revenues of $439 million for the quarter, up 4.2% year-over-year.

PNC Financial Services Group Inc. boosted its stake in shares of Valvoline (NYSE:VVV - Free Report) by 30.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 28,101 shares of the basic materials company's stock after purchasing an additional 6,515 shares during the period. PNC Financial Services Group Inc.'s holdings in Valvoline were worth $978,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Alberta Investment Management Corp bought a new stake in Valvoline during the first quarter valued at approximately $576,000. Nicolet Advisory Services LLC grew its position in Valvoline by 24.1% during the first quarter. Nicolet Advisory Services LLC now owns 7,640 shares of the basic materials company's stock valued at $250,000 after buying an additional 1,483 shares during the period. XTX Topco Ltd bought a new stake in Valvoline during the first quarter valued at approximately $841,000. GSA Capital Partners LLP bought a new stake in Valvoline during the first quarter valued at approximately $865,000. Finally, Mawer Investment Management Ltd. grew its position in Valvoline by 144.6% during the first quarter. Mawer Investment Management Ltd. now owns 1,224,420 shares of the basic materials company's stock valued at $42,622,000 after buying an additional 723,938 shares during the period. Institutional investors own 96.13% of the company's stock.

Valvoline Price Performance

VVV stock traded up $1.16 during midday trading on Wednesday, hitting $39.88. The company's stock had a trading volume of 1,825,467 shares, compared to its average volume of 1,967,027. Valvoline has a 12 month low of $31.01 and a 12 month high of $43.74. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 3.37. The firm has a market capitalization of $5.07 billion, a price-to-earnings ratio of 18.55 and a beta of 1.17. The company has a 50 day moving average of $37.22 and a two-hundred day moving average of $36.05.

Valvoline (NYSE:VVV - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The basic materials company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. Valvoline had a return on equity of 84.85% and a net margin of 16.43%. The business had revenue of $439.00 million during the quarter, compared to the consensus estimate of $436.35 million. During the same period in the prior year, the company posted $0.45 EPS. The firm's revenue for the quarter was up 4.2% compared to the same quarter last year. On average, analysts expect that Valvoline will post 1.63 EPS for the current year.

Insiders Place Their Bets

In other Valvoline news, CEO Lori Ann Flees purchased 3,000 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was acquired at an average cost of $33.78 per share, for a total transaction of $101,340.00. Following the purchase, the chief executive officer directly owned 46,614 shares of the company's stock, valued at $1,574,620.92. This trade represents a 6.88% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.66% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VVV has been the subject of several recent research reports. The Goldman Sachs Group upgraded shares of Valvoline from a "hold" rating to a "buy" rating and boosted their target price for the company from $40.00 to $45.00 in a research report on Tuesday, June 3rd. Piper Sandler restated an "overweight" rating and set a $44.00 target price (down from $45.00) on shares of Valvoline in a research report on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Valvoline from $42.00 to $44.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Stephens raised their target price on shares of Valvoline from $40.00 to $44.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 29th. Finally, Citigroup decreased their target price on shares of Valvoline from $41.00 to $38.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Five equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Valvoline presently has an average rating of "Moderate Buy" and an average price target of $42.31.

About Valvoline

Valvoline Inc engages in the operation and franchising of vehicle service centers and retail stores in the United States and Canada. The company, through its service centers, provides fluid exchange for motor oil, transmission and differential fluid, and coolant; parts replacement for batteries, filters, wiper blades, and belts; and safety services, such as tire inflation and rotation, bulbs, and safety checks.