First Merchants Corp Buys 4,641 Shares of Vectren Corp. (VVC)
First Merchants Corp raised its position in shares of Vectren Corp. (NYSE:VVC) by 6.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,778 shares of the company’s stock after buying an additional 4,641 shares during the period. Vectren Corp. comprises approximately 1.4% of First Merchants Corp’s investment portfolio, making the stock its 13th largest position. First Merchants Corp’s holdings in Vectren Corp. were worth $4,255,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Vectren Corp. by 0.8% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 19,502 shares of the company’s stock worth $1,027,000 after buying an additional 153 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of Vectren Corp. by 0.8% in the first quarter. Chesley Taft & Associates LLC now owns 25,725 shares of the company’s stock worth $1,301,000 after buying an additional 200 shares during the last quarter. Arizona State Retirement System raised its stake in shares of Vectren Corp. by 0.5% in the first quarter. Arizona State Retirement System now owns 39,357 shares of the company’s stock worth $1,990,000 after buying an additional 200 shares during the last quarter. Aston Asset Management LLC raised its stake in shares of Vectren Corp. by 0.8% in the first quarter. Aston Asset Management LLC now owns 32,877 shares of the company’s stock worth $1,662,000 after buying an additional 252 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Vectren Corp. by 11.3% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,868 shares of the company’s stock worth $195,000 after buying an additional 393 shares during the last quarter. 63.26% of the stock is currently owned by institutional investors.
Shares of Vectren Corp. (NYSE:VVC) traded up 0.22% during mid-day trading on Tuesday, reaching $50.17. The company’s stock had a trading volume of 219,608 shares. Vectren Corp. has a 12 month low of $39.43 and a 12 month high of $53.33. The company has a market cap of $4.16 billion, a P/E ratio of 22.44 and a beta of 0.57. The company has a 50-day moving average of $49.87 and a 200-day moving average of $50.19.
Vectren Corp. (NYSE:VVC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.04. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. The company had revenue of $533.70 million for the quarter, compared to the consensus estimate of $585.40 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s quarterly revenue was down 3.1% compared to the same quarter last year. Equities research analysts forecast that Vectren Corp. will post $2.47 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a dividend of $0.40 per share. The ex-dividend date was Thursday, August 11th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. Vectren Corp.’s dividend payout ratio (DPR) is currently 71.43%.
A number of analysts recently commented on the company. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, June 16th. Citigroup Inc. boosted their target price on Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th.
About Vectren Corp.
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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