Allianz Asset Management GmbH decreased its holdings in Vectren Corp (NYSE:VVC) by 2.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 343,277 shares of the utilities provider’s stock after selling 9,593 shares during the quarter. Allianz Asset Management GmbH owned 0.41% of Vectren worth $24,540,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of VVC. Zions Bancorporation acquired a new position in shares of Vectren in the 2nd quarter valued at approximately $107,000. Centaurus Financial Inc. acquired a new position in shares of Vectren in the 2nd quarter valued at approximately $163,000. First Hawaiian Bank acquired a new position in shares of Vectren in the 3rd quarter valued at approximately $173,000. CIBC Asset Management Inc acquired a new position in shares of Vectren in the 2nd quarter valued at approximately $204,000. Finally, Hayek Kallen Investment Management acquired a new position in shares of Vectren in the 2nd quarter valued at approximately $211,000. Institutional investors and hedge funds own 64.38% of the company’s stock.
Separately, Zacks Investment Research upgraded shares of Vectren from a “sell” rating to a “hold” rating in a research report on Friday, November 23rd. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Vectren presently has an average rating of “Hold” and an average target price of $66.00.
Shares of NYSE:VVC opened at $71.91 on Thursday. The company has a market capitalization of $5.97 billion, a PE ratio of 27.66, a PEG ratio of 3.59 and a beta of 0.39. The company has a quick ratio of 0.55, a current ratio of 0.69 and a debt-to-equity ratio of 1.06. Vectren Corp has a 12 month low of $58.00 and a 12 month high of $71.96.
Vectren (NYSE:VVC) last issued its earnings results on Monday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the consensus estimate of $0.74 by ($0.13). The firm had revenue of $665.00 million during the quarter, compared to analyst estimates of $707.00 million. Vectren had a net margin of 7.37% and a return on equity of 12.10%. Vectren’s quarterly revenue was down 3.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.75 earnings per share. As a group, research analysts expect that Vectren Corp will post 2.87 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 3rd. Investors of record on Thursday, November 15th were issued a dividend of $0.48 per share. The ex-dividend date was Wednesday, November 14th. This is a positive change from Vectren’s previous quarterly dividend of $0.45. This represents a $1.92 annualized dividend and a dividend yield of 2.67%. Vectren’s payout ratio is 73.85%.
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Vectren Company Profile
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.
Further Reading: What are Institutional Investors?
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