First Manhattan Co. Has $199,000 Stake in Vectren Corporation (NYSE:VVC)
First Manhattan Co. continued to hold its position in Vectren Corporation (NYSE:VVC) during the second quarter, Holdings Channel reports. The firm owned 3,419 shares of the utilities provider’s stock at the end of the second quarter. First Manhattan Co.’s holdings in Vectren Corporation were worth $199,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Sei Investments Co. increased its position in Vectren Corporation by 20.0% in the first quarter. Sei Investments Co. now owns 1,973 shares of the utilities provider’s stock valued at $115,000 after buying an additional 329 shares during the last quarter. Birch Hill Investment Advisors LLC bought a new position in Vectren Corporation during the first quarter valued at about $200,000. Stratos Wealth Partners LTD. bought a new position in Vectren Corporation during the first quarter valued at about $201,000. GW Henssler & Associates Ltd. bought a new position in Vectren Corporation during the first quarter valued at about $202,000. Finally, Oakbrook Investments LLC increased its position in Vectren Corporation by 2.0% in the second quarter. Oakbrook Investments LLC now owns 3,540 shares of the utilities provider’s stock valued at $207,000 after buying an additional 70 shares during the last quarter. 64.57% of the stock is currently owned by institutional investors and hedge funds.
Vectren Corporation (VVC) opened at 60.13 on Friday. The firm’s 50-day moving average is $59.46 and its 200 day moving average is $58.53. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $62.79. The stock has a market capitalization of $4.99 billion, a P/E ratio of 22.28 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last issued its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million for the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The business’s revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.39 EPS. Equities analysts expect that Vectren Corporation will post $2.62 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Tuesday, August 15th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. Vectren Corporation’s payout ratio is currently 62.22%.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Vectren Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a report on Friday, August 4th. Finally, Citigroup Inc. increased their price objective on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Vectren Corporation currently has an average rating of “Buy” and an average target price of $65.50.
About Vectren Corporation
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).
Want to see what other hedge funds are holding VVC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vectren Corporation (NYSE:VVC).
Receive News & Ratings for Vectren Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vectren Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.