Valeo Financial Advisors LLC grew its stake in Vectren Corp (NYSE:VVC) by 12.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,830 shares of the utilities provider’s stock after buying an additional 1,991 shares during the period. Valeo Financial Advisors LLC’s holdings in Vectren were worth $1,276,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in shares of Vectren by 5.3% in the second quarter. Renaissance Technologies LLC now owns 1,430,200 shares of the utilities provider’s stock worth $102,188,000 after buying an additional 72,000 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vectren by 9.6% during the first quarter. Principal Financial Group Inc. now owns 1,282,889 shares of the utilities provider’s stock worth $82,002,000 after purchasing an additional 112,613 shares during the last quarter. Water Island Capital LLC purchased a new position in shares of Vectren during the second quarter worth $51,108,000. Gabelli Funds LLC raised its holdings in shares of Vectren by 30.1% during the second quarter. Gabelli Funds LLC now owns 681,619 shares of the utilities provider’s stock worth $48,702,000 after purchasing an additional 157,619 shares during the last quarter. Finally, Alpine Associates Management Inc. purchased a new position in shares of Vectren during the second quarter worth $45,774,000. 63.94% of the stock is owned by institutional investors and hedge funds.
Shares of Vectren stock opened at $71.63 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.71 and a quick ratio of 0.58. Vectren Corp has a 1 year low of $58.00 and a 1 year high of $71.74. The firm has a market cap of $5.95 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 3.57 and a beta of 0.42.
Vectren (NYSE:VVC) last issued its earnings results on Wednesday, August 1st. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.51 by $0.05. Vectren had a net margin of 7.72% and a return on equity of 12.33%. The firm had revenue of $644.00 million during the quarter, compared to analysts’ expectations of $688.00 million. During the same quarter last year, the company posted $0.45 earnings per share. The firm’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts anticipate that Vectren Corp will post 2.85 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, December 3rd. Investors of record on Thursday, November 15th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.68%. This is a boost from Vectren’s previous quarterly dividend of $0.45. Vectren’s dividend payout ratio (DPR) 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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