Borr Drilling Limited (NYSE:BORR) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in shares of Borr Drilling Limited (NYSE:BORR - Free Report) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,141,288 shares of the company's stock after selling 174,220 shares during the quarter. Vanguard Group Inc. owned 5.99% of Borr Drilling worth $64,903,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its position in shares of Borr Drilling by 262.1% in the third quarter. Tower Research Capital LLC TRC now owns 9,168 shares of the company's stock worth $65,000 after purchasing an additional 6,636 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in Borr Drilling in the second quarter worth $75,000. Franklin Resources Inc. purchased a new stake in Borr Drilling in the first quarter worth $86,000. O Shaughnessy Asset Management LLC purchased a new position in Borr Drilling during the first quarter valued at $88,000. Finally, Price T Rowe Associates Inc. MD purchased a new position in Borr Drilling during the second quarter valued at $59,000. Institutional investors own 83.12% of the company's stock.

Borr Drilling Stock Up 0.7 %

Shares of BORR traded up $0.04 during midday trading on Monday, reaching $5.83. 3,026,297 shares of the stock were exchanged, compared to its average volume of 2,062,390. Borr Drilling Limited has a 52 week low of $5.70 and a 52 week high of $9.01. The company's 50 day moving average is $6.38 and its two-hundred day moving average is $6.58. The company has a market capitalization of $889.02 million, a P/E ratio of 72.88 and a beta of 3.02. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.65.

Borr Drilling (NYSE:BORR - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.05. The firm had revenue of $220.60 million during the quarter. Borr Drilling had a return on equity of 2.38% and a net margin of 2.86%.

Borr Drilling Announces Dividend

The business also recently disclosed a monthly dividend, which was paid on Monday, March 18th. Shareholders of record on Monday, March 4th were paid a dividend of $0.05 per share. This represents a $0.60 dividend on an annualized basis and a yield of 10.29%. The ex-dividend date of this dividend was Friday, March 1st.

Analysts Set New Price Targets

Separately, Evercore ISI dropped their target price on Borr Drilling from $10.00 to $9.00 and set an "in-line" rating on the stock in a research report on Friday, February 23rd.

Borr Drilling Company Profile

Borr Drilling Limited operates as an offshore drilling contractor to the oil and gas industry worldwide. The company owns, contracts, and operates jack-up drilling rigs for operations in shallow-water areas, including the provision of related equipment and work crews to conduct oil and gas drilling and workover operations for exploration and production.