Northern Trust Corp Has $29.94 Million Stock Holdings in Valaris Limited $VAL

Key Points

• Northern Trust Corp has reduced its position in Valaris Limited by 6.8%, owning 762,617 shares after selling 55,844 shares in the first quarter of 2023.
• Valaris reported earnings of $1.61 per share for the last quarter, exceeding analysts' expectations of $1.16, with revenue of $615.20 million.
• Despite the position reduction by Northern Trust, institutional investors own approximately 96.74% of Valaris Limited's stock.

Northern Trust Corp trimmed its position in shares of Valaris Limited (NYSE:VAL - Free Report) by 6.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 762,617 shares of the company's stock after selling 55,844 shares during the period. Northern Trust Corp owned 1.07% of Valaris worth $29,940,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Valaris by 1,027.5% during the 1st quarter. GAMMA Investing LLC now owns 1,353 shares of the company's stock worth $53,000 after purchasing an additional 1,233 shares in the last quarter. South Dakota Investment Council grew its holdings in shares of Valaris by 33.1% during the 1st quarter. South Dakota Investment Council now owns 47,456 shares of the company's stock valued at $1,863,000 after acquiring an additional 11,800 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Valaris during the 4th quarter valued at $875,000. Deutsche Bank AG grew its holdings in shares of Valaris by 94.7% during the 4th quarter. Deutsche Bank AG now owns 207,291 shares of the company's stock valued at $9,171,000 after acquiring an additional 100,812 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Valaris by 14.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 143,399 shares of the company's stock valued at $6,344,000 after acquiring an additional 18,107 shares in the last quarter. 96.74% of the stock is currently owned by hedge funds and other institutional investors.

Valaris Stock Performance

Valaris stock traded down $0.55 on Tuesday, reaching $49.12. 966,469 shares of the stock were exchanged, compared to its average volume of 1,096,928. The stock has a market cap of $3.50 billion, a PE ratio of 12.79 and a beta of 1.17. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.46. Valaris Limited has a twelve month low of $27.15 and a twelve month high of $60.17. The firm has a fifty day moving average price of $47.28 and a two-hundred day moving average price of $41.03.

Valaris (NYSE:VAL - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.16 by $0.45. The company had revenue of $615.20 million for the quarter, compared to the consensus estimate of $582.70 million. Valaris had a net margin of 11.18% and a return on equity of 12.36%. The business's revenue was up .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.03 EPS. Sell-side analysts anticipate that Valaris Limited will post 3.96 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wall Street Zen upgraded shares of Valaris from a "sell" rating to a "hold" rating in a report on Saturday. BTIG Research restated a "buy" rating on shares of Valaris in a report on Monday, July 14th. Citigroup restated a "neutral" rating and set a $50.00 price target (up from $47.00) on shares of Valaris in a report on Thursday, July 10th. Clarkson Capital cut shares of Valaris from a "buy" rating to a "neutral" rating and set a $54.00 price target on the stock. in a report on Tuesday. Finally, Susquehanna lifted their price objective on shares of Valaris from $46.00 to $52.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $47.50.

About Valaris

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.