Edgestream Partners L.P. Takes $3.29 Million Position in Valaris Limited (NYSE:VAL)

Edgestream Partners L.P. bought a new stake in Valaris Limited (NYSE:VAL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 58,921 shares of the company’s stock, valued at approximately $3,285,000. Edgestream Partners L.P. owned 0.08% of Valaris as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Valaris in the second quarter valued at about $28,884,000. Dimensional Fund Advisors LP raised its stake in Valaris by 23.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,188,973 shares of the company’s stock valued at $88,573,000 after purchasing an additional 225,283 shares in the last quarter. AQR Capital Management LLC raised its stake in Valaris by 338.5% in the second quarter. AQR Capital Management LLC now owns 236,379 shares of the company’s stock valued at $17,426,000 after purchasing an additional 182,467 shares in the last quarter. Canada Pension Plan Investment Board acquired a new position in Valaris in the second quarter valued at about $13,306,000. Finally, Herr Investment Group LLC raised its stake in Valaris by 123.3% in the second quarter. Herr Investment Group LLC now owns 235,822 shares of the company’s stock valued at $17,569,000 after purchasing an additional 130,236 shares in the last quarter. Institutional investors own 96.74% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on VAL. Benchmark downgraded Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Susquehanna lowered their target price on Valaris from $61.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, November 1st. Citigroup lowered their target price on Valaris from $71.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Barclays lowered their target price on Valaris from $61.00 to $59.00 and set an “overweight” rating for the company in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $73.40.

Insider Buying and Selling at Valaris

In other Valaris news, SVP Davor Vukadin sold 15,403 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $56.64, for a total transaction of $872,425.92. Following the completion of the sale, the senior vice president now owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 53.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Matthew Lyne sold 26,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $55.77, for a total transaction of $1,450,020.00. Following the sale, the senior vice president now directly owns 24,388 shares of the company’s stock, valued at approximately $1,360,118.76. This trade represents a 51.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,403 shares of company stock valued at $4,028,246. 0.12% of the stock is currently owned by company insiders.

Valaris Stock Up 1.4 %

Shares of NYSE VAL opened at $46.19 on Monday. The company has a 50 day simple moving average of $51.02 and a 200 day simple moving average of $62.78. The firm has a market cap of $3.28 billion, a PE ratio of 3.17 and a beta of 1.17. Valaris Limited has a 1 year low of $45.42 and a 1 year high of $84.20. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.61 and a quick ratio of 1.61.

Valaris Profile

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.