Profund Advisors LLC Sells 2,298 Shares of Vectren Corporation (VVC)
Profund Advisors LLC decreased its position in Vectren Corporation (NYSE:VVC) by 12.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,898 shares of the utilities provider’s stock after selling 2,298 shares during the period. Profund Advisors LLC’s holdings in Vectren Corporation were worth $929,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Sei Investments Co. boosted its holdings in Vectren Corporation by 20.0% in the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 329 shares during the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in Vectren Corporation by 3.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 75 shares during the last quarter. Global X Management Co. LLC boosted its holdings in Vectren Corporation by 220.7% in the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after acquiring an additional 1,810 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Vectren Corporation by 12.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 331 shares during the last quarter. Finally, Birch Hill Investment Advisors LLC bought a new position in Vectren Corporation in the first quarter valued at about $200,000. Institutional investors and hedge funds own 63.11% of the company’s stock.
Several research firms recently issued reports on VVC. Zacks Investment Research upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 20th. BidaskClub upgraded Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Vectren Corporation presently has an average rating of “Buy” and a consensus price target of $65.50.
Vectren Corporation (VVC) opened at 65.16 on Friday. The company has a market cap of $5.41 billion, a PE ratio of 24.14 and a beta of 0.81. The company has a 50-day moving average price of $64.01 and a 200 day moving average price of $60.45. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $68.30.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The business had revenue of $630.70 million during the quarter, compared to analysts’ expectations 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 forecast that Vectren Corporation will post $2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, August 11th. This represents a $1.68 dividend on an annualized basis and a yield of 2.58%. Vectren Corporation’s payout ratio is presently 62.22%.
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Vectren Corporation 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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