Veritiv Co. (NYSE:VRTV) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System cut its position in shares of Veritiv Co. (NYSE:VRTVGet Rating) by 20.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,943 shares of the basic materials company’s stock after selling 1,240 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Veritiv were worth $537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. grew its holdings in shares of Veritiv by 69.9% during the first quarter. Victory Capital Management Inc. now owns 12,958 shares of the basic materials company’s stock worth $1,821,000 after buying an additional 5,329 shares in the last quarter. CI Investments Inc. grew its holdings in Veritiv by 4.4% in the first quarter. CI Investments Inc. now owns 10,267 shares of the basic materials company’s stock valued at $1,372,000 after purchasing an additional 431 shares during the period. Harvest Fund Management Co. Ltd grew its holdings in Veritiv by 218.0% in the first quarter. Harvest Fund Management Co. Ltd now owns 1,272 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 872 shares during the period. Nisa Investment Advisors LLC grew its holdings in Veritiv by 19.3% in the second quarter. Nisa Investment Advisors LLC now owns 1,563 shares of the basic materials company’s stock valued at $170,000 after purchasing an additional 253 shares during the period. Finally, Profund Advisors LLC purchased a new stake in Veritiv in the first quarter valued at approximately $259,000. 96.34% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VRTV. StockNews.com began coverage on shares of Veritiv in a report on Wednesday, October 12th. They issued a “strong-buy” rating for the company. Bank of America decreased their price objective on shares of Veritiv from $155.00 to $126.00 in a research note on Thursday, October 13th.

Veritiv Stock Down 1.3 %

Shares of Veritiv stock opened at $129.75 on Friday. The business has a 50-day moving average of $111.04 and a 200-day moving average of $121.80. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.98 and a quick ratio of 1.42. The company has a market capitalization of $1.75 billion, a PE ratio of 5.96, a P/E/G ratio of 0.38 and a beta of 2.11. Veritiv Co. has a 1-year low of $85.57 and a 1-year high of $161.10.

Veritiv Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 19th. Investors of record on Friday, November 18th will be paid a $0.63 dividend. The ex-dividend date of this dividend is Thursday, November 17th. This represents a $2.52 dividend on an annualized basis and a yield of 1.94%. Veritiv’s dividend payout ratio (DPR) is 11.58%.

Veritiv Company Profile

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Veritiv Corporation operates as a business-to-business provider of value-added packaging products and services, as well as facility solutions, print, and publishing products and services in the United States and internationally. The company operates through four segments: Packaging, Facility Solutions, Print, and Publishing and Print Management (Publishing).

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Institutional Ownership by Quarter for Veritiv (NYSE:VRTV)

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