Duff & Phelps Investment Management Co. Decreases Position in Vectren Corp. (VVC)
Duff & Phelps Investment Management Co. decreased its stake in Vectren Corp. (NYSE:VVC) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 1,554,815 shares of the company’s stock after selling 1,415 shares during the period. Vectren Corp. comprises 1.2% of Duff & Phelps Investment Management Co.’s holdings, making the stock its 22nd largest position. Duff & Phelps Investment Management Co.’s holdings in Vectren Corp. were worth $81,892,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Vectren Corp. by 2.4% in the first quarter. Geode Capital Management LLC now owns 528,008 shares of the company’s stock valued at $26,696,000 after buying an additional 12,198 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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. M&T Bank Corp purchased a new position in Vectren Corp. during the first quarter valued at approximately $200,000. 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 valued at $271,878,000 after buying an additional 290,807 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Vectren Corp. by 71.0% in the first quarter. BlackRock Group LTD now owns 87,813 shares of the company’s stock valued at $4,441,000 after buying an additional 36,459 shares in the last quarter. 62.83% of the stock is currently owned by hedge funds and other institutional investors.
Vectren Corp. (NYSE:VVC) traded up 0.83% during midday trading on Tuesday, hitting $48.82. 132,684 shares of the company were exchanged. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33. The stock has a market capitalization of $4.04 billion, a price-to-earnings ratio of 21.83 and a beta of 0.60. The stock has a 50 day moving average of $49.23 and a 200-day moving average of $50.16.
Vectren Corp. (NYSE:VVC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ 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 company earned $533.70 million during the quarter, compared to the consensus estimate of $585.40 million. During the same period in the previous year, the company earned $0.43 earnings per share. Vectren Corp.’s quarterly revenue was down 3.1% on a year-over-year basis. Equities analysts expect that Vectren Corp. will post $2.47 earnings per share for the current year.
A number of equities research analysts recently commented on VVC shares. Zacks Investment Research raised shares of Vectren Corp. from a “sell” rating to a “hold” rating in a report on Thursday, August 25th. Citigroup Inc. lifted their price target on shares of Vectren Corp. from $44.00 to $53.00 and gave the stock 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).
Want to see what other hedge funds are holding VVC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vectren Corp. (NYSE:VVC).
Receive News & Ratings for Vectren Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vectren Corp. and related companies with MarketBeat.com's FREE daily email newsletter.