Versigent $VGNT Stock Sold by Douglas Lane & Associates LLC

Douglas Lane & Associates LLC lowered its stake in shares of Versigent (NYSE:VGNT) by 23.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 199,399 shares of the company’s stock after selling 62,515 shares during the quarter. Douglas Lane & Associates LLC’s holdings in Versigent were worth $8,961,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Allianz Asset Management GmbH acquired a new stake in shares of Versigent in the second quarter worth approximately $20,602,000. HBK Investments L P acquired a new position in Versigent in the second quarter valued at $14,439,000. Steamboat Capital Partners LLC purchased a new stake in shares of Versigent during the 2nd quarter worth about $10,385,000. WINTON GROUP Ltd acquired a new stake in Versigent during the 2nd quarter worth approximately $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. acquired a new stake in shares of Versigent in the second quarter worth $5,400,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on VGNT. Zacks Research cut shares of Versigent from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group decreased their price target on Versigent from $59.00 to $58.00 and set a “buy” rating for the company in a report on Tuesday. TD Cowen boosted their target price on shares of Versigent from $49.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, August 5th. Argus lifted their price target on shares of Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Weiss Ratings began coverage on Versigent in a report on Wednesday, August 5th. They set a “hold (c)” rating on the stock. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Versigent has a consensus rating of “Moderate Buy” and a consensus price target of $53.92.

Insider Activity

In other Versigent news, Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total transaction of $3,385,517.10. Following the transaction, the director directly owned 124,849 shares in the company, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Versigent Stock Up 1.5%

Versigent stock traded up $0.65 during mid-day trading on Friday, hitting $44.81. 167,899 shares of the company’s stock traded hands, compared to its average volume of 1,619,603. The firm has a market cap of $3.17 billion and a P/E ratio of 23.37. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40. Versigent has a one year low of $26.34 and a one year high of $50.88. The company has a 50 day moving average price of $46.31.

Versigent (NYSE:VGNT) last announced its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.29 billion. On average, analysts expect that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.13 dividend. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.2%.

About Versigent

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.