Envestnet Asset Management Inc. Decreases Position in Vulcan Materials (NYSE:VMC)

Posted by on Feb 24th, 2023

Envestnet Asset Management Inc. lessened its stake in Vulcan Materials (NYSE:VMC – Get Rating) by 0.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 120,676 shares of the construction company’s stock after selling 668 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.09% of Vulcan Materials worth $19,032,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of VMC. American Century Companies Inc. raised its stake in shares of Vulcan Materials by 10.4% in the first quarter. American Century Companies Inc. now owns 7,180 shares of the construction company’s stock valued at $1,319,000 after buying an additional 676 shares during the period. Cambridge Investment Research Advisors Inc. raised its stake in Vulcan Materials by 2.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 4,685 shares of the construction company’s stock valued at $861,000 after acquiring an additional 110 shares during the period. Private Advisor Group LLC lifted its holdings in Vulcan Materials by 32.2% during the first quarter. Private Advisor Group LLC now owns 2,451 shares of the construction company’s stock valued at $450,000 after purchasing an additional 597 shares during the last quarter. Yousif Capital Management LLC boosted its position in Vulcan Materials by 0.9% during the first quarter. Yousif Capital Management LLC now owns 19,808 shares of the construction company’s stock worth $3,639,000 after purchasing an additional 175 shares during the period. Finally, Prudential PLC purchased a new position in shares of Vulcan Materials in the first quarter worth about $470,000. Hedge funds and other institutional investors own 90.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on VMC. Royal Bank of Canada raised their price objective on shares of Vulcan Materials from $191.00 to $193.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. DA Davidson increased their price objective on Vulcan Materials from $200.00 to $212.00 in a report on Friday, February 17th. Citigroup raised their target price on Vulcan Materials from $194.00 to $211.00 in a research note on Tuesday, January 10th. Seaport Res Ptn reiterated a “neutral” rating on shares of Vulcan Materials in a research report on Friday, February 10th. Finally, JPMorgan Chase & Co. upgraded shares of Vulcan Materials from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $185.00 to $200.00 in a research report on Thursday, December 8th. Five analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Vulcan Materials has an average rating of “Moderate Buy” and an average price target of $204.25.

Insider Buying and Selling

In other news, SVP David P. Clement sold 2,000 shares of the firm’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $180.00, for a total transaction of $360,000.00. Following the transaction, the senior vice president now directly owns 1,970 shares of the company’s stock, valued at $354,600. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.55% of the stock is owned by corporate insiders.

Vulcan Materials Price Performance

VMC opened at $182.57 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.38 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $24.27 billion, a P/E ratio of 42.36, a PEG ratio of 1.93 and a beta of 0.79. The stock has a 50-day moving average price of $180.40 and a 200-day moving average price of $172.97. Vulcan Materials has a 12-month low of $137.54 and a 12-month high of $197.76.

Vulcan Materials (NYSE:VMC – Get Rating) last issued its earnings results on Thursday, February 16th. The construction company reported $1.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.18). The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.84 billion. Vulcan Materials had a return on equity of 10.09% and a net margin of 7.87%. The firm’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.25 EPS. Equities analysts predict that Vulcan Materials will post 6.12 earnings per share for the current fiscal year.

Vulcan Materials Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 20th. Investors of record on Monday, March 6th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, March 3rd. This represents a $1.72 annualized dividend and a dividend yield of 0.94%. This is a positive change from Vulcan Materials’s previous quarterly dividend of $0.40. Vulcan Materials’s dividend payout ratio (DPR) is currently 37.12%.

About Vulcan Materials

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Vulcan Materials Co engages in the provision of basic materials and supply for the infrastructure and construction industries. It operates through the following business segments: Aggregates, Asphalt, Concrete, and Calcium. The Aggregates segment produces and sells asphalt mix and ready-mixed concrete primarily in its mid-Atlantic, Georgia, Southwestern, Tennessee, and Western markets.

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Institutional Ownership by Quarter for Vulcan Materials (NYSE:VMC)

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