3,928 Shares in Vectren Corp. (VVC) Acquired by TD Asset Management Inc.
TD Asset Management Inc. bought a new position in shares of Vectren Corp. (NYSE:VVC) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,928 shares of the company’s stock, valued at approximately $207,000.
A number of other hedge funds have also made changes to their positions in the stock. Manchester Capital Management LLC acquired a new stake in shares of Vectren Corp. during the first quarter worth approximately $115,000. Ladenburg Thalmann Financial Services Inc. boosted its stake in shares of Vectren Corp. by 11.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,868 shares of the company’s stock worth $195,000 after buying an additional 393 shares in the last quarter. M&T Bank Corp acquired a new stake in shares of Vectren Corp. during the first quarter worth approximately $200,000. Oakbrook Investments LLC acquired a new stake in shares of Vectren Corp. during the second quarter worth approximately $233,000. Finally, LS Investment Advisors LLC boosted its stake in shares of Vectren Corp. by 73.7% in the second quarter. LS Investment Advisors LLC now owns 4,974 shares of the company’s stock worth $262,000 after buying an additional 2,111 shares in the last quarter. 63.26% of the stock is owned by institutional investors and hedge funds.
Shares of Vectren Corp. (NYSE:VVC) traded up 0.22% during mid-day trading on Tuesday, hitting $50.17. 219,608 shares of the stock were exchanged. Vectren Corp. has a 52-week low of $39.43 and a 52-week high of $53.33. The stock’s 50-day moving average price is $49.92 and its 200-day moving average price is $50.16. The company has a market cap of $4.16 billion, a P/E ratio of 22.44 and a beta of 0.57.
Vectren Corp. (NYSE:VVC) last issued its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.04. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The firm earned $533.70 million during the quarter, compared to analysts’ expectations of $585.40 million. During the same period in the previous year, the firm earned $0.43 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 11th. Vectren Corp.’s dividend payout ratio (DPR) is presently 71.43%.
A number of brokerages have recently issued reports on VVC. Zacks Investment Research raised shares of Vectren Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 16th. Citigroup Inc. increased their price objective on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 27th.
Vectren Corp. Company Profile
Vectren Corporation (Vectren) is an energy holding Company. The Company segregates its operations into groups, including the Utility Group, the Nonutility Group, and Corporate and Other. The Company’s subsidiary, Vectren Utility Holdings, Inc (Utility Holdings or VUHI), serves as the intermediate holding company for three public utilities: Indiana Gas Company, Inc (Indiana Gas), Southern Indiana Gas and Electric Company (SIGECO) and Vectren Energy Delivery of Ohio, Inc (VEDO).
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