Prospera Private Wealth LLC Takes Position in Vulcan Materials (NYSE:VMC)

Prospera Private Wealth LLC purchased a new position in shares of Vulcan Materials (NYSE:VMC) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 245 shares of the construction company’s stock, valued at approximately $61,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of VMC. SouthState Corp lifted its position in shares of Vulcan Materials by 669.2% during the second quarter. SouthState Corp now owns 100 shares of the construction company’s stock worth $25,000 after purchasing an additional 87 shares in the last quarter. Kings Path Partners LLC acquired a new position in Vulcan Materials in the 2nd quarter worth $27,000. Ashton Thomas Securities LLC purchased a new position in Vulcan Materials in the 3rd quarter valued at about $30,000. UMB Bank n.a. grew its stake in shares of 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 acquiring an additional 47 shares in the last quarter. Finally, Concord Wealth Partners acquired a new stake in shares of Vulcan Materials during the third quarter valued at about $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com raised Vulcan Materials from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada decreased their price target on shares of Vulcan Materials from $267.00 to $257.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 7th. UBS Group started coverage on shares of Vulcan Materials in a report on Thursday, November 7th. They issued a “buy” rating and a $349.00 price target on the stock. Truist Financial raised their price objective on shares of Vulcan Materials from $300.00 to $315.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Stephens cut their target price on shares of Vulcan Materials from $300.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $280.46.

Vulcan Materials Price Performance

Shares of VMC opened at $281.18 on Friday. Vulcan Materials has a 12 month low of $209.60 and a 12 month 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. The stock has a fifty day moving average price of $260.31 and a 200 day moving average price of $254.60. The company has a market cap of $37.13 billion, a P/E ratio of 44.35, a PEG ratio of 2.67 and a beta of 0.81.

Vulcan Materials (NYSE:VMC) last released its quarterly earnings results on Wednesday, October 30th. The construction company reported $2.22 EPS for the quarter, missing the consensus estimate 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 return on equity of 11.88% and a net margin of 11.43%. The firm’s revenue was down 8.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.29 EPS. On average, research analysts forecast that Vulcan Materials will post 7.2 earnings per share for the current year.

Vulcan Materials Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 27th. Stockholders of record on Monday, November 4th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, November 4th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 0.65%. Vulcan Materials’s dividend payout ratio (DPR) 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.