Fernbridge Capital Management LP Acquires Shares of 308,002 Vulcan Materials (NYSE:VMC)

Fernbridge Capital Management LP acquired a new stake in Vulcan Materials (NYSE:VMC) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 308,002 shares of the construction company’s stock, valued at approximately $79,227,000. Vulcan Materials comprises 4.2% of Fernbridge Capital Management LP’s portfolio, making the stock its 7th biggest holding.

A number of other hedge funds have also modified their holdings of the business. Norges Bank purchased a new stake in Vulcan Materials during the 4th quarter valued at approximately $380,369,000. Principal Financial Group Inc. increased its holdings in shares of Vulcan Materials by 19.9% in the third quarter. Principal Financial Group Inc. now owns 5,320,570 shares of the construction company’s stock valued at $1,332,431,000 after purchasing an additional 884,580 shares during the period. Proficio Capital Partners LLC lifted its holdings in shares of Vulcan Materials by 28,529.4% during the fourth quarter. Proficio Capital Partners LLC now owns 523,631 shares of the construction company’s stock worth $134,694,000 after purchasing an additional 521,802 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Vulcan Materials by 271.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 559,643 shares of the construction company’s stock worth $143,957,000 after purchasing an additional 408,803 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in Vulcan Materials in the 4th quarter valued at $74,760,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VMC has been the subject of a number of analyst reports. Stephens restated an “overweight” rating and set a $325.00 price objective on shares of Vulcan Materials in a research report on Thursday, January 2nd. Stifel Nicolaus started coverage on shares of Vulcan Materials in a report on Tuesday, March 4th. They set a “buy” rating and a $287.00 price target for the company. Royal Bank of Canada lifted their price objective on Vulcan Materials from $269.00 to $286.00 and gave the company a “sector perform” rating in a report on Wednesday, February 19th. Wolfe Research raised Vulcan Materials from a “peer perform” rating to an “outperform” rating in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. upgraded Vulcan Materials from a “neutral” rating to an “overweight” rating and decreased their price target for the company from $290.00 to $285.00 in a research note on Wednesday, March 19th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.64.

Vulcan Materials Stock Down 1.0 %

Vulcan Materials stock opened at $247.11 on Friday. Vulcan Materials has a fifty-two week low of $215.08 and a fifty-two week high of $298.31. The firm has a market capitalization of $32.69 billion, a price-to-earnings ratio of 36.07, a price-to-earnings-growth ratio of 2.03 and a beta of 0.80. The stock’s fifty day moving average is $238.89 and its two-hundred day moving average is $259.56. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.02 and a current ratio of 1.83.

Vulcan Materials (NYSE:VMC) last posted its earnings results on Tuesday, February 18th. The construction company reported $2.17 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.41. The firm had revenue of $1.85 billion during the quarter, compared to the consensus estimate of $1.81 billion. Vulcan Materials had a net margin of 12.30% and a return on equity of 12.83%. During the same period last year, the firm posted $1.46 EPS. Analysts predict that Vulcan Materials will post 8.69 EPS for the current fiscal year.

Vulcan Materials Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 24th. Investors of record on Monday, March 10th were given a dividend of $0.49 per share. This is an increase from Vulcan Materials’s previous quarterly dividend of $0.46. This represents a $1.96 annualized dividend and a dividend yield of 0.79%. The ex-dividend date of this dividend was Monday, March 10th. Vulcan Materials’s payout ratio is currently 28.61%.

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.