Veritiv Corporation (VRTV) Holdings Boosted by Thrivent Financial For Lutherans
Thrivent Financial For Lutherans boosted its stake in shares of Veritiv Corporation (NYSE:VRTV) by 3.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,860 shares of the basic materials company’s stock after purchasing an additional 260 shares during the period. Thrivent Financial For Lutherans’ holdings in Veritiv Corporation were worth $309,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Janus Capital Management LLC raised its stake in shares of Veritiv Corporation by 18.4% in the 1st quarter. Janus Capital Management LLC now owns 876,895 shares of the basic materials company’s stock valued at $45,423,000 after acquiring an additional 136,536 shares during the period. Vanguard Group Inc. raised its stake in shares of Veritiv Corporation by 28.1% in the 1st quarter. Vanguard Group Inc. now owns 582,988 shares of the basic materials company’s stock valued at $30,199,000 after acquiring an additional 127,926 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Veritiv Corporation by 16.3% in the 1st quarter. Dimensional Fund Advisors LP now owns 477,575 shares of the basic materials company’s stock valued at $24,737,000 after acquiring an additional 67,030 shares during the period. Morgan Stanley raised its stake in shares of Veritiv Corporation by 570.2% in the 1st quarter. Morgan Stanley now owns 209,167 shares of the basic materials company’s stock valued at $10,836,000 after acquiring an additional 177,956 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Veritiv Corporation by 126.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 154,575 shares of the basic materials company’s stock valued at $6,956,000 after acquiring an additional 86,335 shares during the period. 93.10% of the stock is currently owned by institutional investors.
Shares of Veritiv Corporation (NYSE:VRTV) opened at 32.85 on Monday. The company’s 50-day moving average is $31.53 and its 200 day moving average is $38.80. Veritiv Corporation has a 1-year low of $26.85 and a 1-year high of $62.60. The stock’s market cap is $515.74 million.
Veritiv Corporation (NYSE:VRTV) last issued its quarterly earnings data on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.32. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.02 billion. Veritiv Corporation’s revenue was down 1.5% compared to the same quarter last year. Equities research analysts anticipate that Veritiv Corporation will post $1.48 EPS for the current year.
In other news, Chairman Mary A. Laschinger acquired 3,300 shares of Veritiv Corporation stock in a transaction dated Tuesday, September 12th. The stock was acquired at an average cost of $30.22 per share, for a total transaction of $99,726.00. Following the completion of the purchase, the chairman now owns 63,993 shares of the company’s stock, valued at $1,933,868.46. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the stock. BidaskClub downgraded shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, October 11th. Zacks Investment Research raised shares of Veritiv Corporation from a “sell” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Thursday, October 5th. TheStreet downgraded shares of Veritiv Corporation from a “c-” rating to a “d+” rating in a research note on Monday, August 21st. William Blair downgraded shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a research note on Wednesday, August 9th. Finally, Barclays PLC cut their target price on shares of Veritiv Corporation from $35.00 to $25.00 and set an “underweight” rating on the stock in a research note on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $39.20.
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Veritiv Corporation Profile
Veritiv Corporation is a business-to-business distributor of print, publishing, packaging and facility solutions. The Company also provides logistics and supply chain management solutions to its customers. The Company’s segments are Print, Publishing & Print Management (Publishing), Packaging, Facility Solutions, and Corporate & Other.
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