Freestone Grove Partners LP Makes New $18.72 Million Investment in VSE Corporation $VSEC

Freestone Grove Partners LP bought a new position in shares of VSE Corporation (NASDAQ:VSEC) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 81,931 shares of the construction company’s stock, valued at approximately $18,721,000.

Other large investors have also recently made changes to their positions in the company. Allworth Financial LP bought a new position in shares of VSE in the second quarter worth about $29,000. GAMMA Investing LLC lifted its holdings in VSE by 89.0% during the 2nd quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $63,000 after buying an additional 130 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in VSE by 145.7% in the 4th quarter. EverSource Wealth Advisors LLC now owns 258 shares of the construction company’s stock valued at $45,000 after buying an additional 153 shares during the period. Global Retirement Partners LLC purchased a new stake in VSE in the 2nd quarter valued at about $51,000. Finally, Persistent Asset Partners Ltd purchased a new stake in VSE in the 2nd quarter valued at about $90,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

VSE Stock Down 2.6%

VSE stock opened at $221.00 on Friday. The business has a fifty day moving average of $216.03 and a two-hundred day moving average of $202.16. The company has a quick ratio of 1.30, a current ratio of 3.77 and a debt-to-equity ratio of 0.31. The firm has a market cap of $6.20 billion, a P/E ratio of 70.83, a P/E/G ratio of 1.09 and a beta of 1.23. VSE Corporation has a twelve month low of $154.67 and a twelve month high of $247.85.

VSE (NASDAQ:VSEC) last announced its quarterly earnings results on Wednesday, August 5th. The construction company reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.82. The business had revenue of $449.14 million for the quarter, compared to the consensus estimate of $425.03 million. VSE had a return on equity of 6.71% and a net margin of 6.17%.The business’s revenue was up 65.0% compared to the same quarter last year. During the same period last year, the business posted $0.97 EPS. On average, analysts forecast that VSE Corporation will post 5.78 earnings per share for the current fiscal year.

VSE Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 15th. VSE’s dividend payout ratio is presently 12.82%.

Insider Transactions at VSE

In other VSE news, COO Benjamin E. Thomas sold 6,500 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $196.82, for a total value of $1,279,330.00. Following the completion of the sale, the chief operating officer directly owned 42,839 shares in the company, valued at $8,431,571.98. This trade represents a 13.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John A. Cuomo sold 17,500 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $242.49, for a total value of $4,243,575.00. Following the completion of the sale, the chief executive officer directly owned 169,537 shares of the company’s stock, valued at $41,111,027.13. The trade was a 9.36% decrease in their position. The SEC filing for this sale provides additional information. 1.80% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. B. Riley Financial reaffirmed a “buy” rating on shares of VSE in a research report on Friday, August 7th. Citigroup boosted their price target on VSE from $263.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Truist Financial raised VSE to a “strong-buy” rating in a research note on Friday, May 1st. Morgan Stanley set a $230.00 target price on VSE in a report on Wednesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on VSE from $280.00 to $290.00 and gave the stock a “buy” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $252.22.

VSE Company Profile

VSE Corporation (NASDAQ: VSEC) is a provider of aftermarket distribution and supply chain management services serving both government and commercial markets. The company’s solutions span a wide range of industries, with particular emphasis on defense, aerospace and transportation. VSE’s core mission is to ensure mission readiness by delivering critical parts, maintenance and technical support for equipment throughout its lifecycle.

Through its Distribution Services segment, VSE sources, markets and distributes replacement parts and components for commercial truck, bus, rail and specialty vehicle applications.