Prospera Private Wealth LLC Makes New Investment in Vulcan Materials (NYSE:VMC)

Prospera Private Wealth LLC bought a new stake in Vulcan Materials (NYSE:VMC) in the third quarter, Holdings Channel.com reports. The institutional investor bought 245 shares of the construction company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also modified their holdings of VMC. United Asset Strategies Inc. lifted its stake in Vulcan Materials by 1.1% in the 3rd quarter. United Asset Strategies Inc. now owns 3,747 shares of the construction company’s stock worth $938,000 after acquiring an additional 39 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in shares of Vulcan Materials by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 1,987 shares of the construction company’s stock worth $498,000 after purchasing an additional 44 shares in the last quarter. Marcum Wealth LLC boosted its holdings in shares of Vulcan Materials by 5.7% during the third quarter. Marcum Wealth LLC now owns 854 shares of the construction company’s stock worth $214,000 after purchasing an additional 46 shares during the period. UMB Bank n.a. grew its position in Vulcan Materials by 61.8% during the second quarter. UMB Bank n.a. now owns 123 shares of the construction company’s stock valued at $31,000 after purchasing an additional 47 shares in the last quarter. Finally, Golden State Equity Partners increased its stake in Vulcan Materials by 4.5% in the 3rd quarter. Golden State Equity Partners now owns 1,099 shares of the construction company’s stock valued at $275,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Vulcan Materials Stock Up 1.2 %

VMC stock opened at $281.18 on Friday. The stock has a market capitalization of $37.13 billion, a price-to-earnings ratio of 44.35, a price-to-earnings-growth ratio of 2.67 and a beta of 0.81. The company has a 50-day moving average of $260.31 and a two-hundred day moving average of $254.60. Vulcan Materials has a 52-week low of $209.60 and a 52-week high of $298.31. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.86 and a quick ratio of 2.02.

Vulcan Materials (NYSE:VMC) last announced its earnings results on Wednesday, October 30th. The construction company reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.01 billion. Vulcan Materials had a net margin of 11.43% and a return on equity of 11.88%. Vulcan Materials’s revenue for the quarter was down 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.29 EPS. As a group, equities research analysts anticipate that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 27th. Investors of record on Monday, November 4th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 0.65%. The ex-dividend date of this dividend is Monday, November 4th. Vulcan Materials’s payout ratio is currently 29.02%.

Analysts Set New Price Targets

VMC has been the topic of several research analyst reports. Citigroup lowered their price target on shares of Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Stephens dropped their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, August 8th. Barclays raised their price target on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. UBS Group assumed coverage on Vulcan Materials in a research note on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Vulcan Materials from $250.00 to $245.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $280.46.

Vulcan Materials Profile

Vulcan Materials Company, together with its subsidiaries, produces and supplies construction aggregates primarily in the United States. It operates through four segments: Aggregates, Asphalt, Concrete, and Calcium. The company provides crushed stones, sand and gravel, sand, and other aggregates; and related products and services that are applied in construction and maintenance of highways, streets, and other public works, as well as in the construction of housing and commercial, industrial, and other nonresidential facilities.