Valmont Industries, Inc. $VMI Shares Sold by Corient Private Wealth LLC

Key Points

• Corient Private Wealth LLC cut its Valmont Industries stake by 46% in the fourth quarter, selling 3,322 shares and leaving it with 3,901 shares valued at about $1.57 million.
• Wall Street sentiment remains positive, with several analysts raising price targets and maintaining buy-type ratings; the consensus price target is $573.75.
• Valmont reported strong quarterly results, beating earnings and revenue estimates, while also announcing a $0.77 quarterly dividend payable on July 15.

Corient Private Wealth LLC reduced its position in shares of Valmont Industries, Inc. (NYSE:VMI - Free Report) by 46.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,901 shares of the industrial products company's stock after selling 3,322 shares during the quarter. Corient Private Wealth LLC's holdings in Valmont Industries were worth $1,574,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Millennium Management LLC grew its position in shares of Valmont Industries by 225.1% in the first quarter. Millennium Management LLC now owns 67,630 shares of the industrial products company's stock valued at $19,300,000 after purchasing an additional 46,825 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Valmont Industries by 8.6% during the first quarter. Goldman Sachs Group Inc. now owns 59,127 shares of the industrial products company's stock worth $16,873,000 after purchasing an additional 4,676 shares in the last quarter. Empowered Funds LLC acquired a new position in Valmont Industries in the 1st quarter valued at $265,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Valmont Industries by 3.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 72,511 shares of the industrial products company's stock valued at $20,692,000 after purchasing an additional 2,639 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in Valmont Industries by 223.4% in the 1st quarter. Geneos Wealth Management Inc. now owns 152 shares of the industrial products company's stock valued at $43,000 after purchasing an additional 105 shares in the last quarter. 87.84% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Oppenheimer set a $600.00 target price on Valmont Industries and gave the stock an "outperform" rating in a report on Thursday, May 28th. Stifel Nicolaus lifted their price objective on Valmont Industries from $541.00 to $645.00 and gave the stock a "buy" rating in a research report on Wednesday, June 17th. Wall Street Zen cut Valmont Industries from a "strong-buy" rating to a "buy" rating in a report on Saturday. Weiss Ratings raised shares of Valmont Industries from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Finally, JPMorgan Chase & Co. increased their price target on shares of Valmont Industries from $520.00 to $600.00 and gave the company an "overweight" rating in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $573.75.

Insider Activity

In related news, Director Mogens C. Bay sold 17,500 shares of the company's stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $492.34, for a total value of $8,615,950.00. Following the completion of the sale, the director directly owned 112,309 shares of the company's stock, valued at $55,294,213.06. This represents a 13.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.42% of the stock is currently owned by company insiders.

Valmont Industries Stock Up 0.9%

Shares of NYSE VMI opened at $578.25 on Wednesday. The firm has a market cap of $11.22 billion, a price-to-earnings ratio of 32.11, a PEG ratio of 1.32 and a beta of 1.34. Valmont Industries, Inc. has a 52-week low of $321.21 and a 52-week high of $585.71. The company has a quick ratio of 1.59, a current ratio of 2.38 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $525.13 and its two-hundred day moving average is $463.35.

Valmont Industries (NYSE:VMI - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The industrial products company reported $5.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.72 by $0.79. The business had revenue of $1.03 billion during the quarter, compared to analysts' expectations of $994.85 million. Valmont Industries had a return on equity of 24.94% and a net margin of 8.91%.The business's quarterly revenue was up 6.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.32 EPS. Research analysts predict that Valmont Industries, Inc. will post 22.83 EPS for the current year.

Valmont Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Stockholders of record on Friday, June 26th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, June 26th. Valmont Industries's payout ratio is presently 17.10%.

Valmont Industries 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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