Empower Advisory Group LLC Has $9.80 Million Holdings in Vulcan Materials (NYSE:VMC)

Empower Advisory Group LLC cut its holdings in shares of Vulcan Materials (NYSE:VMC) by 0.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 39,128 shares of the construction company’s stock after selling 91 shares during the quarter. Empower Advisory Group LLC’s holdings in Vulcan Materials were worth $9,799,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in Vulcan Materials by 5.0% during the 1st quarter. Vanguard Group Inc. now owns 16,005,692 shares of the construction company’s stock worth $4,368,273,000 after acquiring an additional 755,991 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Vulcan Materials by 19.9% during the 3rd quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after buying an additional 884,580 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Vulcan Materials by 18.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,130,537 shares of the construction company’s stock valued at $533,551,000 after buying an additional 330,433 shares during the last quarter. Capital World Investors acquired a new stake in shares of Vulcan Materials during the 1st quarter valued at about $388,027,000. Finally, Vontobel Holding Ltd. lifted its holdings in Vulcan Materials by 7.1% in the 3rd quarter. Vontobel Holding Ltd. now owns 1,369,530 shares of the construction company’s stock worth $342,971,000 after purchasing an additional 91,318 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on VMC shares. Stephens reduced their target price on Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, August 8th. Truist Financial boosted their target price on Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Barclays boosted their target price on Vulcan Materials from $250.00 to $285.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Citigroup dropped their price target on Vulcan Materials from $297.00 to $292.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Finally, JPMorgan Chase & Co. dropped their price target on 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 equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $280.46.

Vulcan Materials Stock Performance

VMC opened at $287.68 on Thursday. The stock has a market cap of $37.99 billion, a PE ratio of 45.38, a P/E/G ratio of 2.77 and a beta of 0.81. The company has a current ratio of 2.86, a quick ratio of 2.02 and a debt-to-equity ratio of 0.42. Vulcan Materials has a 1 year low of $209.39 and a 1 year high of $298.31. The stock’s 50 day simple moving average is $253.66 and its 200-day simple moving average is $253.55.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings data on Wednesday, October 30th. The construction company reported $2.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.34 by ($0.12). The firm 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%. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.29 earnings per share. Sell-side analysts forecast that Vulcan Materials will post 7.2 EPS for the current year.

Vulcan Materials Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.64%. The ex-dividend date is Monday, November 4th. Vulcan Materials’s dividend payout ratio is presently 29.02%.

About Vulcan Materials

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.