BlackRock Inc. reduced its position in shares of Vedanta Ltd (NYSE:VEDL) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,412,465 shares of the basic materials company’s stock after selling 26,531 shares during the period. BlackRock Inc. owned 0.60% of Vedanta worth $60,010,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. bought a new stake in Vedanta in the 1st quarter valued at $190,000. Commonwealth Equity Services LLC bought a new stake in Vedanta in the 2nd quarter valued at $213,000. Greenleaf Trust bought a new stake in Vedanta in the 2nd quarter valued at $282,000. Trexquant Investment LP bought a new stake in Vedanta in the 2nd quarter valued at $321,000. Finally, Boston Advisors LLC boosted its holdings in Vedanta by 25.1% in the 2nd quarter. Boston Advisors LLC now owns 32,606 shares of the basic materials company’s stock valued at $443,000 after purchasing an additional 6,532 shares during the period. 4.96% of the stock is owned by institutional investors and hedge funds.
A number of analysts have weighed in on the stock. ValuEngine downgraded shares of Vedanta from a “hold” rating to a “sell” rating in a report on Wednesday, June 20th. Goldman Sachs Group assumed coverage on shares of Vedanta in a report on Tuesday, August 28th. They issued a “buy” rating for the company.
Shares of VEDL stock opened at $11.61 on Friday. Vedanta Ltd has a 52-week low of $11.09 and a 52-week high of $21.99. The firm has a market capitalization of $9.49 billion, a PE ratio of 7.90 and a beta of 2.12. The company has a quick ratio of 0.67, a current ratio of 0.84 and a debt-to-equity ratio of 0.36.
Vedanta (NYSE:VEDL) last announced its quarterly earnings data on Tuesday, July 31st. The basic materials company reported $0.25 earnings per share (EPS) for the quarter. Vedanta had a net margin of 10.77% and a return on equity of 27.06%. The company had revenue of $3.38 billion during the quarter.
Vedanta Limited operates as a diversified natural resources company in India. The company produces oil and gas, zinc, lead, silver, iron ore, copper, and aluminum. It also operates 1,980 megawatts (MW) thermal coal-based commercial power facilities; a 600 MW thermal coal-based commercial power facility in Jharsuguda; a 600 MW thermal coal- based commercial power facility in Korba; 274 MW wind power plants; and a 100 MW power plant.
Further Reading: Determine Your Level of Risk Tolerance
Want to see what other hedge funds are holding VEDL? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vedanta Ltd (NYSE:VEDL).
Receive News & Ratings for Vedanta Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vedanta and related companies with MarketBeat.com's FREE daily email newsletter.