3,090 Shares in Vectren Corporation (VVC) Purchased by Boothbay Fund Management LLC
Boothbay Fund Management LLC acquired a new stake in shares of Vectren Corporation (NYSE:VVC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 3,090 shares of the utilities provider’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds have also bought and sold shares of VVC. Russell Investments Group Ltd. boosted its holdings in Vectren by 9.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 47,638 shares of the utilities provider’s stock valued at $2,785,000 after acquiring an additional 4,133 shares during the period. Acadian Asset Management LLC boosted its holdings in Vectren by 282.0% during the 2nd quarter. Acadian Asset Management LLC now owns 4,164 shares of the utilities provider’s stock valued at $243,000 after acquiring an additional 3,074 shares during the period. Great West Life Assurance Co. Can boosted its holdings in Vectren by 0.8% during the 2nd quarter. Great West Life Assurance Co. Can now owns 49,282 shares of the utilities provider’s stock valued at $2,879,000 after acquiring an additional 412 shares during the period. Sei Investments Co. boosted its holdings in Vectren by 674.3% during the 2nd quarter. Sei Investments Co. now owns 15,276 shares of the utilities provider’s stock valued at $893,000 after acquiring an additional 13,303 shares during the period. Finally, TD Asset Management Inc. boosted its holdings in Vectren by 5.7% during the 2nd quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock valued at $500,000 after acquiring an additional 463 shares during the period. Institutional investors own 63.99% of the company’s stock.
Shares of Vectren Corporation (NYSE:VVC) traded up $0.14 during mid-day trading on Thursday, hitting $67.84. The company’s stock had a trading volume of 233,800 shares, compared to its average volume of 379,497. Vectren Corporation has a twelve month low of $51.12 and a twelve month high of $69.86. The stock has a market cap of $5,619.26, a PE ratio of 24.98, a price-to-earnings-growth ratio of 4.31 and a beta of 0.83. The company has a quick ratio of 0.55, a current ratio of 0.70 and a debt-to-equity ratio of 0.90.
Vectren (NYSE:VVC) last issued its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.08. Vectren had a return on equity of 12.51% and a net margin of 8.49%. The business had revenue of $691.20 million during the quarter, compared to analysts’ expectations of $615.00 million. During the same period in the prior year, the business earned $0.74 EPS. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. analysts forecast that Vectren Corporation will post 2.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a dividend yield of 2.65%. This is a boost from Vectren’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 14th. Vectren’s dividend payout ratio is currently 66.42%.
VVC has been the subject of a number of recent analyst reports. Zacks Investment Research upgraded Vectren from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. Citigroup boosted their price objective on Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 20th. BidaskClub upgraded Vectren from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Finally, ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Two equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Vectren presently has a consensus rating of “Buy” and a consensus target price of $70.00.
In other news, Director Derrick Burks bought 1,000 shares of the stock in a transaction on Thursday, September 28th. The stock was acquired at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $65,600. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by corporate insiders.
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Vectren Company Profile
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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