Sei Investments Co. cut its position in shares of Vectren Corp (NYSE:VVC) by 20.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,256 shares of the utilities provider’s stock after selling 6,144 shares during the quarter. Sei Investments Co.’s holdings in Vectren were worth $1,551,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assetmark Inc. grew its holdings in shares of Vectren by 12,841.2% during the fourth quarter. Assetmark Inc. now owns 2,200 shares of the utilities provider’s stock worth $143,000 after buying an additional 2,183 shares in the last quarter. Bray Capital Advisors purchased a new stake in shares of Vectren during the first quarter worth about $152,000. Signaturefd LLC purchased a new stake in shares of Vectren during the first quarter worth about $168,000. Bedel Financial Consulting Inc. purchased a new stake in shares of Vectren during the first quarter worth about $180,000. Finally, Parallel Advisors LLC grew its holdings in shares of Vectren by 855.8% during the first quarter. Parallel Advisors LLC now owns 3,393 shares of the utilities provider’s stock worth $217,000 after buying an additional 3,038 shares in the last quarter. Institutional investors and hedge funds own 66.34% of the company’s stock.
A number of brokerages have recently commented on VVC. Zacks Investment Research downgraded shares of Vectren from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Citigroup downgraded shares of Vectren from a “buy” rating to a “neutral” rating and set a $72.00 price target for the company. in a report on Wednesday, April 25th. Finally, Bank of America reiterated a “neutral” rating on shares of Vectren in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the stock. Vectren has an average rating of “Hold” and a consensus price target of $66.00.
Vectren opened at $71.48 on Tuesday, Marketbeat Ratings reports. Vectren Corp has a 1 year low of $57.48 and a 1 year high of $71.54. The company has a market capitalization of $5.94 billion, a P/E ratio of 27.49, a P/E/G ratio of 3.56 and a beta of 0.60. The company has a quick ratio of 0.49, a current ratio of 0.61 and a debt-to-equity ratio of 0.89.
Vectren (NYSE:VVC) last released its earnings results on Tuesday, May 1st. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.01. Vectren had a net margin of 8.33% and a return on equity of 11.94%. The firm had revenue of $658.40 million during the quarter, compared to the consensus estimate of $688.00 million. During the same period in the previous year, the firm earned $0.67 earnings per share. Vectren’s revenue was up 5.4% compared to the same quarter last year. research analysts predict that Vectren Corp will post 2.87 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Tuesday, May 15th were issued a $0.45 dividend. The ex-dividend date of this dividend was Monday, May 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.52%. Vectren’s payout ratio is 69.23%.
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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