Vectren Corp. (VVC) Stake Cut by JPMorgan Chase & Co.
JPMorgan Chase & Co. decreased its stake in Vectren Corp. (NYSE:VVC) by 10.2% during the second quarter, Holdings Channel reports. The institutional investor owned 173,131 shares of the company’s stock after selling 19,705 shares during the period. JPMorgan Chase & Co. owned 0.21% of Vectren Corp. worth $9,118,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Riverhead Capital Management LLC boosted its position in Vectren Corp. by 339.5% in the first quarter. Riverhead Capital Management LLC now owns 58,450 shares of the company’s stock worth $2,954,000 after buying an additional 45,150 shares during the period. State Street Corp boosted its position in Vectren Corp. by 5.7% in the first quarter. State Street Corp now owns 5,377,295 shares of the company’s stock worth $271,878,000 after buying an additional 290,807 shares during the period. Huntington Asset Advisors Inc. bought a new position in Vectren Corp. during the first quarter worth approximately $758,000. M&T Bank Corp purchased a new position in Vectren Corp. during the first quarter valued at about $200,000. Finally, BlackRock Institutional Trust Company N.A. increased its position 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. 62.91% of the stock is owned by institutional investors and hedge funds.
Vectren Corp. (NYSE:VVC) traded up 0.08% on Thursday, hitting $47.67. The stock had a trading volume of 96,080 shares. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of 21.32 and a beta of 0.60. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33. The company has a 50-day moving average price of $49.74 and a 200-day moving average price of $50.30.
Vectren Corp. (NYSE:VVC) last posted its 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. The company had revenue of $533.70 million for the quarter, compared to analysts’ expectations of $585.40 million. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. Equities analysts predict that Vectren Corp. will post $2.47 earnings per share for the current year.
VVC has been the subject of several recent research reports. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Citigroup Inc. upped their price objective on Vectren Corp. from $44.00 to $53.00 and gave the company 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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