Vectren Corp. (VVC) Shares Bought by Principal Financial Group Inc.
Principal Financial Group Inc. increased its position in shares of Vectren Corp. (NYSE:VVC) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 588,945 shares of the company’s stock after buying an additional 26,969 shares during the period. Principal Financial Group Inc. owned approximately 0.71% of Vectren Corp. worth $31,019,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of VVC. Manchester Capital Management LLC acquired a new stake in Vectren Corp. during the first quarter worth about $115,000. Ladenburg Thalmann Financial Services Inc. increased its stake in 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 during the period. M&T Bank Corp acquired a new stake in Vectren Corp. during the first quarter worth about $200,000. TD Asset Management Inc. acquired a new stake in Vectren Corp. during the second quarter worth about $207,000. Finally, Oakbrook Investments LLC acquired a new stake in Vectren Corp. during the second quarter worth about $233,000. 62.91% of the stock is owned by institutional investors.
Shares of Vectren Corp. (NYSE:VVC) traded down 0.65% during mid-day trading on Friday, reaching $51.57. 14,894 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $49.89 and a 200-day moving average price of $50.21. The company has a market capitalization of $4.27 billion, a P/E ratio of 23.06 and a beta of 0.57. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33.
Vectren Corp. (NYSE:VVC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.04. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. The company earned $533.70 million during the quarter, compared to analyst estimates of $585.40 million. During the same quarter last year, the business earned $0.43 EPS. The company’s revenue for the quarter was down 3.1% compared to the same quarter last year. On average, equities research analysts forecast that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Monday, August 15th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.08%. Vectren Corp.’s dividend payout ratio (DPR) is 71.43%.
VVC has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Vectren Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday. Citigroup Inc. increased their target price on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock a “neutral” rating in a research report 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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