Bowen Hanes & Co. Inc. Purchases 130,000 Shares of Viavi Solutions Inc. $VIAV

Bowen Hanes & Co. Inc. increased its position in shares of Viavi Solutions Inc. (NASDAQ:VIAV) by 7.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,000,000 shares of the communications equipment provider’s stock after buying an additional 130,000 shares during the period. Viavi Solutions accounts for approximately 1.6% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its 26th biggest position. Bowen Hanes & Co. Inc.’s holdings in Viavi Solutions were worth $66,560,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC increased its position in Viavi Solutions by 96.2% during the first quarter. WPG Advisers LLC now owns 775 shares of the communications equipment provider’s stock worth $26,000 after buying an additional 380 shares during the last quarter. State of Wyoming acquired a new stake in shares of Viavi Solutions in the fourth quarter valued at approximately $34,000. Johnson Financial Group Inc. acquired a new stake in shares of Viavi Solutions in the third quarter valued at approximately $44,000. Cedar Mountain Advisors LLC bought a new position in shares of Viavi Solutions during the 1st quarter worth approximately $50,000. Finally, Hantz Financial Services Inc. increased its holdings in shares of Viavi Solutions by 86.2% during the 4th quarter. Hantz Financial Services Inc. now owns 2,845 shares of the communications equipment provider’s stock worth $51,000 after acquiring an additional 1,317 shares during the last quarter. Institutional investors and hedge funds own 95.54% of the company’s stock.

Viavi Solutions Trading Down 1.1%

Shares of VIAV stock opened at $41.80 on Friday. The stock has a market cap of $9.78 billion, a P/E ratio of -174.16 and a beta of 1.18. Viavi Solutions Inc. has a 1 year low of $9.61 and a 1 year high of $60.43. The company has a current ratio of 1.61, a quick ratio of 1.39 and a debt-to-equity ratio of 0.99. The stock has a 50 day simple moving average of $46.93 and a 200 day simple moving average of $37.60.

Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings data on Wednesday, April 29th. The communications equipment provider reported $0.27 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.03. The firm had revenue of $406.80 million during the quarter, compared to analysts’ expectations of $393.80 million. Viavi Solutions had a positive return on equity of 16.80% and a negative net margin of 4.03%.The company’s quarterly revenue was up 42.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 EPS. Viavi Solutions has set its Q4 2026 guidance at 0.290-0.310 EPS. On average, research analysts predict that Viavi Solutions Inc. will post 0.73 earnings per share for the current fiscal year.

Insider Buying and Selling at Viavi Solutions

In other Viavi Solutions news, CEO Oleg Khaykin sold 136,547 shares of the stock in a transaction dated Friday, May 8th. The shares were sold at an average price of $51.82, for a total transaction of $7,075,865.54. Following the sale, the chief executive officer directly owned 1,188,798 shares in the company, valued at $61,603,512.36. This represents a 10.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Doug Gilstrap sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $55.00, for a total transaction of $550,000.00. Following the completion of the transaction, the director directly owned 55,766 shares in the company, valued at approximately $3,067,130. This represents a 15.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 450,369 shares of company stock valued at $23,789,119 over the last three months. 1.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Susquehanna raised their price target on Viavi Solutions from $65.00 to $66.00 and gave the company a “positive” rating in a report on Wednesday, July 1st. Weiss Ratings lowered shares of Viavi Solutions from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Thursday, July 16th. UBS Group raised their target price on shares of Viavi Solutions from $25.00 to $60.00 and gave the stock a “neutral” rating in a research note on Thursday, April 30th. Wall Street Zen raised shares of Viavi Solutions from a “hold” rating to a “buy” rating in a report on Saturday, May 2nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $70.00 price target on shares of Viavi Solutions in a research note on Wednesday, June 10th. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $42.88.

About Viavi Solutions

Viavi Solutions Inc is a provider of network test, monitoring and assurance solutions for communications service providers, cable operators, enterprises and government agencies. The company offers an extensive portfolio of fiber optic and copper cable test and measurement instruments, wireless network testing equipment and network performance monitoring software. Its products are designed to support the deployment, maintenance and optimization of high-speed broadband, 5G wireless, data center and enterprise networks.

Viavi’s product offerings are organized into two primary segments: Network & Service Enablement and Optical Security & Performance.