Capital Fund Management S.A. Invests $463,000 in Vectren Corp. (VVC)
Capital Fund Management S.A. 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 institutional investor bought 8,800 shares of the company’s stock, valued at approximately $463,000.
Other institutional investors have also made changes to their positions in the company. M&T Bank Corp purchased a new stake in Vectren Corp. during the first quarter worth approximately $200,000. Oakbrook Investments LLC purchased a new stake in Vectren Corp. during the second quarter worth approximately $233,000. LS Investment Advisors LLC boosted its stake in 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 during the last quarter. Creative Planning boosted its stake in Vectren Corp. by 15.9% in the second quarter. Creative Planning now owns 5,723 shares of the company’s stock worth $301,000 after buying an additional 784 shares during the last quarter. Finally, Prudential PLC purchased a new stake in Vectren Corp. during the first quarter worth approximately $293,000. 62.90% of the stock is owned by institutional investors and hedge funds.
Shares of Vectren Corp. (NYSE:VVC) traded up 1.98% during midday trading on Thursday, reaching $48.40. 332,017 shares of the company traded hands. The company has a 50 day moving average price of $49.34 and a 200 day moving average price of $50.21. The company has a market capitalization of $4.01 billion, a PE ratio of 21.65 and a beta of 0.60. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33.
Vectren Corp. (NYSE:VVC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.43 by $0.04. Vectren Corp. had a return on equity of 10.99% and a net margin of 8.06%. The business earned $533.70 million during the quarter, compared to analysts’ expectations of $585.40 million. During the same period in the previous year, the company posted $0.43 EPS. Vectren Corp.’s revenue for the quarter was down 3.1% on a year-over-year basis. On average, analysts expect that Vectren Corp. will post $2.47 earnings per share for the current year.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Vectren Corp. from a “sell” rating to a “hold” rating in a report on Saturday, July 2nd. Citigroup Inc. increased their price target on shares of Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 27th.
About Vectren Corp.
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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