Vedanta Ltd (NYSE:VEDL) Shares Acquired by Prudential Financial Inc.

Prudential Financial Inc. grew its stake in Vedanta Ltd (NYSE:VEDL) by 3.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 521,739 shares of the basic materials company’s stock after purchasing an additional 18,600 shares during the quarter. Prudential Financial Inc. owned approximately 0.06% of Vedanta worth $5,306,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Thomas White International Ltd. boosted its position in Vedanta by 12.5% during the first quarter. Thomas White International Ltd. now owns 360,383 shares of the basic materials company’s stock worth $3,806,000 after acquiring an additional 40,164 shares during the last quarter. Freestone Capital Holdings LLC boosted its position in Vedanta by 84.4% during the first quarter. Freestone Capital Holdings LLC now owns 528,573 shares of the basic materials company’s stock worth $5,582,000 after acquiring an additional 241,951 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in Vedanta by 18.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 11,077 shares of the basic materials company’s stock worth $117,000 after acquiring an additional 1,726 shares during the last quarter. AJO LP boosted its position in Vedanta by 49.8% during the first quarter. AJO LP now owns 343,546 shares of the basic materials company’s stock worth $3,628,000 after acquiring an additional 114,184 shares during the last quarter. Finally, Evergreen Capital Management LLC acquired a new position in Vedanta during the first quarter worth about $144,000. Institutional investors and hedge funds own 3.67% of the company’s stock.

NYSE:VEDL traded up $0.21 on Friday, hitting $8.44. The stock had a trading volume of 5,228 shares, compared to its average volume of 601,391. The company has a quick ratio of 0.61, a current ratio of 0.78 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 7.64 and a beta of 1.33. The company has a fifty day moving average price of $8.05 and a two-hundred day moving average price of $9.39. Vedanta Ltd has a 1-year low of $7.04 and a 1-year high of $13.41.

Separately, Citigroup upgraded shares of Vedanta from a “neutral” rating to a “buy” rating in a report on Tuesday, May 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold”.

About Vedanta

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.

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Institutional Ownership by Quarter for Vedanta (NYSE:VEDL)

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