Healthcare of Ontario Pension Plan Trust Fund Invests $28.88 Million in Valaris Limited (NYSE:VAL)

Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Valaris Limited (NYSE:VAL) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 387,700 shares of the company’s stock, valued at approximately $28,884,000. Healthcare of Ontario Pension Plan Trust Fund owned 0.53% of Valaris at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Goehring & Rozencwajg Associates LLC raised its position in Valaris by 3.4% in the fourth quarter. Goehring & Rozencwajg Associates LLC now owns 44,238 shares of the company’s stock valued at $3,033,000 after purchasing an additional 1,475 shares during the period. Vanguard Group Inc. boosted its holdings in Valaris by 4.3% during the 4th quarter. Vanguard Group Inc. now owns 1,893,667 shares of the company’s stock valued at $129,849,000 after acquiring an additional 77,490 shares during the period. Insight Wealth Strategies LLC grew its position in Valaris by 3.0% in the 1st quarter. Insight Wealth Strategies LLC now owns 7,119 shares of the company’s stock valued at $536,000 after acquiring an additional 210 shares in the last quarter. NBC Securities Inc. purchased a new stake in Valaris during the first quarter worth about $416,000. Finally, Deane Retirement Strategies Inc. acquired a new stake in shares of Valaris during the first quarter worth about $3,060,000. Institutional investors and hedge funds own 96.74% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on VAL. Benchmark restated a “buy” rating and issued a $90.00 price objective on shares of Valaris in a report on Monday, August 5th. Barclays cut their price objective on Valaris from $98.00 to $91.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Citigroup decreased their target price on Valaris from $95.00 to $71.00 and set a “buy” rating for the company in a report on Thursday, September 12th. Pickering Energy Partners downgraded Valaris from an “outperform” rating to a “neutral” rating in a report on Tuesday, July 16th. Finally, Susquehanna assumed coverage on Valaris in a research note on Tuesday, September 24th. They issued a “neutral” rating and a $62.00 price objective for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Valaris presently has a consensus rating of “Moderate Buy” and an average price target of $86.50.

Valaris Stock Up 1.5 %

Valaris stock opened at $55.91 on Friday. The stock’s fifty day moving average is $61.00 and its two-hundred day moving average is $68.99. The stock has a market cap of $4.05 billion, a PE ratio of 4.89 and a beta of 1.15. Valaris Limited has a 1-year low of $53.06 and a 1-year high of $84.20. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.73 and a quick ratio of 1.73.

Valaris (NYSE:VAL) last issued its earnings results on Wednesday, July 31st. The company reported $2.03 earnings per share for the quarter, topping the consensus estimate of $0.96 by $1.07. The business had revenue of $610.10 million for the quarter, compared to analyst estimates of $545.00 million. Valaris had a return on equity of 12.58% and a net margin of 49.33%. On average, sell-side analysts expect that Valaris Limited will post 4.37 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO Gilles Luca sold 30,000 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.86, for a total value of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, COO Gilles Luca sold 30,000 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $56.86, for a total value of $1,705,800.00. Following the completion of the sale, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at approximately $6,160,326.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Matthew Lyne sold 26,000 shares of Valaris stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total value of $1,450,020.00. Following the transaction, the senior vice president now directly owns 24,388 shares in the company, valued at approximately $1,360,118.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is owned by corporate insiders.

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.