Commonwealth of Pennsylvania Public School Empls Retrmt SYS Cuts Holdings in Vectren Corporation (VVC)
Commonwealth of Pennsylvania Public School Empls Retrmt SYS lessened its holdings in shares of Vectren Corporation (NYSE:VVC) by 0.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,107 shares of the utilities provider’s stock after selling 6 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Vectren Corporation were worth $708,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of VVC. Russell Investments Group Ltd. boosted its position in Vectren Corporation by 11.7% during the first quarter. Russell Investments Group Ltd. now owns 43,505 shares of the utilities provider’s stock worth $2,550,000 after purchasing an additional 4,552 shares during the period. Wells Fargo & Company MN boosted its position in Vectren Corporation by 117.5% during the first quarter. Wells Fargo & Company MN now owns 73,057 shares of the utilities provider’s stock worth $4,282,000 after purchasing an additional 39,474 shares during the period. Canada Pension Plan Investment Board bought a new position in Vectren Corporation during the first quarter worth about $3,341,000. Great West Life Assurance Co. Can boosted its position in Vectren Corporation by 4.7% during the first quarter. Great West Life Assurance Co. Can now owns 48,870 shares of the utilities provider’s stock worth $2,863,000 after purchasing an additional 2,175 shares during the period. Finally, Chicago Equity Partners LLC boosted its position in Vectren Corporation by 11.1% during the first quarter. Chicago Equity Partners LLC now owns 4,995 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 500 shares during the period. Hedge funds and other institutional investors own 63.83% of the company’s stock.
A number of brokerages have weighed in on VVC. BidaskClub upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, September 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Vectren Corporation currently has an average rating of “Buy” and an average target price of $65.50.
Vectren Corporation (NYSE:VVC) opened at 66.86 on Friday. The firm’s 50-day moving average is $63.65 and its 200-day moving average is $60.26. The company has a market cap of $5.55 billion, a price-to-earnings ratio of 24.77 and a beta of 0.81. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $68.30.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The firm had revenue of $630.70 million during the quarter, compared to analyst estimates of $565.12 million. During the same quarter in the prior year, the firm earned $0.39 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Vectren Corporation will post $2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.51%. The ex-dividend date of this dividend was Friday, August 11th. Vectren Corporation’s payout ratio is currently 62.22%.
Vectren Corporation 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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