APG Asset Management N.V. Takes Position in Vectren Corporation (VVC)
APG Asset Management N.V. bought a new stake in shares of Vectren Corporation (NYSE:VVC) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 41,500 shares of the utilities provider’s stock, valued at approximately $2,729,000. APG Asset Management N.V. owned 0.05% of Vectren Corporation as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. raised its holdings in shares of Vectren Corporation by 3.3% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock valued at $139,000 after buying an additional 75 shares during the period. Global X Management Co. LLC raised its holdings in shares of Vectren Corporation by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after buying an additional 1,810 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Vectren Corporation by 12.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock valued at $175,000 after buying an additional 331 shares during the period. Stratos Wealth Partners LTD. raised its holdings in shares of Vectren Corporation by 2.4% during the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock valued at $206,000 after buying an additional 84 shares during the period. Finally, Oakbrook Investments LLC raised its holdings in shares of Vectren Corporation by 2.0% during the 2nd quarter. Oakbrook Investments LLC now owns 3,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 62.70% of the company’s stock.
Shares of Vectren Corporation (VVC) opened at $66.50 on Tuesday. Vectren Corporation has a 12 month low of $46.78 and a 12 month high of $68.84. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. The firm has a market capitalization of $5,561.99, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 4.51 and a beta of 0.84.
Vectren Corporation (NYSE:VVC) last issued its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Vectren Corporation had a return on equity of 12.51% and a net margin of 8.49%. The firm had revenue of $691.20 million during the quarter, compared to analyst estimates of $615.00 million. During the same quarter last year, the firm earned $0.74 EPS. Vectren Corporation’s quarterly revenue was up 9.5% on a year-over-year basis. equities research analysts forecast that Vectren Corporation will post 2.62 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be paid a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date of this dividend is Tuesday, November 14th. This is a positive change from Vectren Corporation’s previous quarterly dividend of $0.42. Vectren Corporation’s dividend payout ratio (DPR) is 61.99%.
In other Vectren Corporation news, Director Derrick Burks acquired 1,000 shares of the stock in a transaction on Thursday, September 28th. The stock was purchased at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the purchase, the director now directly owns 1,000 shares in the company, valued at $65,600. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by company insiders.
Several equities research analysts recently commented on the company. Zacks Investment Research upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. BidaskClub upgraded Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Vectren Corporation has an average rating of “Buy” and a consensus target price 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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