Vectren Corporation (VVC) Shares Sold by Goelzer Investment Management Inc.
Goelzer Investment Management Inc. reduced its position in shares of Vectren Corporation (NYSE:VVC) by 3.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 76,114 shares of the utilities provider’s stock after selling 2,721 shares during the period. Goelzer Investment Management Inc.’s holdings in Vectren Corporation were worth $4,448,000 as of its most recent filing with the SEC.
A number of other large investors have also modified their holdings of VVC. Stratos Wealth Partners LTD. increased its stake in shares of Vectren Corporation by 2.4% in the second quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock worth $206,000 after buying an additional 84 shares during the last quarter. Sei Investments Co. increased its stake in shares of Vectren Corporation by 674.3% in the second quarter. Sei Investments Co. now owns 15,276 shares of the utilities provider’s stock worth $893,000 after buying an additional 13,303 shares during the last quarter. Texas Permanent School Fund increased its stake in shares of Vectren Corporation by 0.9% in the second quarter. Texas Permanent School Fund now owns 60,565 shares of the utilities provider’s stock worth $3,539,000 after buying an additional 529 shares during the last quarter. Bessemer Group Inc. increased its stake in shares of Vectren Corporation by 33.9% in the second quarter. Bessemer Group Inc. now owns 46,401 shares of the utilities provider’s stock worth $2,712,000 after buying an additional 11,735 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in shares of Vectren Corporation by 0.8% in the second quarter. Great West Life Assurance Co. Can now owns 49,282 shares of the utilities provider’s stock worth $2,879,000 after buying an additional 412 shares during the last quarter. 64.57% of the stock is owned by institutional investors.
Shares of Vectren Corporation (VVC) opened at 60.50 on Monday. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79. The firm’s 50-day moving average is $59.53 and its 200-day moving average is $58.25. The stock has a market capitalization of $5.02 billion, a price-to-earnings ratio of 22.92 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.02. The firm had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company’s revenue was up 18.2% on a year-over-year basis. During the same period last year, the company earned $0.39 earnings per share. On average, analysts predict that Vectren Corporation will post $2.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be given a $0.42 dividend. The ex-dividend date is Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 2.78%. Vectren Corporation’s payout ratio is 62.22%.
A number of equities research analysts have weighed in on the stock. BidaskClub raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday. Zacks Investment Research raised shares of Vectren Corporation from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a report on Thursday, July 13th. Finally, Citigroup Inc. upped their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $65.50.
About Vectren Corporation
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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