PNC Financial Services Group Inc. decreased its holdings in shares of Veritiv Corporation (NYSE:VRTV) by 12.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,845 shares of the basic materials company’s stock after selling 8,598 shares during the quarter. PNC Financial Services Group Inc. owned about 0.37% of Veritiv Corporation worth $2,603,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Victory Capital Management Inc. grew its position in shares of Veritiv Corporation by 44.2% during the 1st quarter. Victory Capital Management Inc. now owns 1,951 shares of the basic materials company’s stock worth $101,000 after buying an additional 598 shares during the period. State of Alaska Department of Revenue grew its position in shares of Veritiv Corporation by 78.0% during the 2nd quarter. State of Alaska Department of Revenue now owns 2,260 shares of the basic materials company’s stock worth $101,000 after buying an additional 990 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Veritiv Corporation during the 2nd quarter worth approximately $124,000. Mason Street Advisors LLC grew its position in shares of Veritiv Corporation by 30.5% during the 1st quarter. Mason Street Advisors LLC now owns 2,685 shares of the basic materials company’s stock worth $139,000 after buying an additional 628 shares during the period. Finally, BNP Paribas Arbitrage SA grew its holdings in Veritiv Corporation by 4.3% during the first quarter. BNP Paribas Arbitrage SA now owns 2,951 shares of the basic materials company’s stock valued at $153,000 after purchasing an additional 122 shares during the period. Institutional investors own 93.10% of the company’s stock.

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Veritiv Corporation (VRTV) opened at 32.50 on Friday. The company’s 50-day moving average is $29.12 and its 200-day moving average is $42.08. The firm’s market cap is $510.25 million. Veritiv Corporation has a one year low of $26.85 and a one year high of $62.60.

Veritiv Corporation (NYSE:VRTV) last released its earnings results on Wednesday, August 2nd. The basic materials company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.32. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.02 billion. Veritiv Corporation had a negative net margin of 0.02% and a positive return on equity of 5.43%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts forecast that Veritiv Corporation will post $1.48 earnings per share for the current fiscal year.

In other news, Chairman Mary A. Laschinger bought 3,300 shares of the firm’s stock in a transaction on Tuesday, September 12th. The stock was acquired at an average price of $30.22 per share, with a total value of $99,726.00. Following the transaction, the chairman now owns 63,993 shares of the company’s stock, valued at approximately $1,933,868.46. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.25% of the company’s stock.

VRTV has been the subject of a number of analyst reports. Zacks Investment Research upgraded shares of Veritiv Corporation from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 5th. BidaskClub cut shares of Veritiv Corporation from a “hold” rating to a “sell” rating in a report on Saturday, July 8th. SunTrust Banks, Inc. upgraded shares of Veritiv Corporation from a “hold” rating to a “buy” rating and set a $45.00 price objective for the company in a report on Thursday, August 3rd. They noted that the move was a valuation call. Bank of America Corporation cut shares of Veritiv Corporation from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $64.00 to $36.00 in a report on Thursday, August 3rd. Finally, William Blair cut shares of Veritiv Corporation from an “outperform” rating to a “market perform” rating in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $45.60.

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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Institutional Ownership by Quarter for Veritiv Corporation (NYSE:VRTV)

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