Bright Rock Capital Management LLC Has $9.35 Million Position in Verizon Communications Inc. (VZ)

Bright Rock Capital Management LLC increased its position in Verizon Communications Inc. (NYSE:VZ) by 15.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 189,000 shares of the cell phone carrier’s stock after buying an additional 25,000 shares during the period. Verizon Communications comprises approximately 2.7% of Bright Rock Capital Management LLC’s holdings, making the stock its 3rd largest position. Bright Rock Capital Management LLC’s holdings in Verizon Communications were worth $9,354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Legacy Advisors LLC purchased a new stake in Verizon Communications in the 3rd quarter worth $132,000. Shine Investment Advisory Services Inc. lifted its stake in Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares in the last quarter. Private Vista LLC lifted its stake in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc purchased a new stake in Verizon Communications in the 2nd quarter worth $156,000. Finally, Regal Wealth Group Inc. lifted its stake in Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares in the last quarter. 63.22% of the stock is owned by institutional investors.

Shares of Verizon Communications Inc. (NYSE:VZ) opened at $51.86 on Tuesday. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications Inc. has a 1 year low of $42.80 and a 1 year high of $53.69. The firm has a market cap of $211,560.00, a PE ratio of 13.30, a P/E/G ratio of 4.68 and a beta of 0.57.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm’s revenue for the quarter was up 2.5% on a year-over-year basis. equities research analysts predict that Verizon Communications Inc. will post 3.77 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 60.51%.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.13% of the company’s stock.

VZ has been the topic of several research analyst reports. Macquarie reiterated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks reiterated a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a research note on Friday, October 20th. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target on the stock in a research note on Monday, November 20th. Finally, Instinet boosted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $51.98.

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About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

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Institutional Ownership by Quarter for Verizon Communications (NYSE:VZ)

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