Baker Ellis Asset Management LLC Sells 300 Shares of Vectren Corp. (VVC)
Baker Ellis Asset Management LLC cut its stake in shares of Vectren Corp. (NYSE:VVC) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 32,273 shares of the company’s stock after selling 300 shares during the period. Baker Ellis Asset Management LLC’s holdings in Vectren Corp. were worth $1,700,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of VVC. State Street Corp increased its stake in Vectren Corp. by 5.7% in the first quarter. State Street Corp now owns 5,377,295 shares of the company’s stock valued at $271,878,000 after buying an additional 290,807 shares in the last quarter. Huntington Asset Advisors Inc. purchased a new stake in Vectren Corp. during the first quarter valued at about $758,000. M&T Bank Corp purchased a new stake in Vectren Corp. during the first quarter valued at about $200,000. JPMorgan Chase & Co. increased its stake in Vectren Corp. by 22.2% in the first quarter. JPMorgan Chase & Co. now owns 192,836 shares of the company’s stock valued at $9,749,000 after buying an additional 35,053 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Vectren Corp. by 0.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 2,431,859 shares of the company’s stock valued at $122,955,000 after buying an additional 10,953 shares in the last quarter. Hedge funds and other institutional investors own 62.91% of the company’s stock.
Vectren Corp. (NYSE:VVC) traded down 0.87% on Wednesday, reaching $47.63. The company had a trading volume of 391,587 shares. The stock has a market capitalization of $3.95 billion, a P/E ratio of 21.30 and a beta of 0.60. Vectren Corp. has a 12 month low of $39.43 and a 12 month high of $53.33. The firm has a 50-day moving average of $49.79 and a 200-day moving average of $50.32.
Vectren Corp. (NYSE:VVC) last announced its earnings results on Wednesday, August 3rd. The company reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.04. The company had revenue of $533.70 million for the quarter, compared to analyst estimates of $585.40 million. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. Vectren Corp.’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.43 EPS. On average, equities research analysts expect that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
Several equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Vectren Corp. from a “sell” rating to a “hold” rating in a report on Saturday, July 2nd. Citigroup Inc. boosted their price objective on Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a 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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