Schroder Investment Management Group Has $68.63 Million Stake in Vectren Corporation (VVC)
Schroder Investment Management Group lifted its position in Vectren Corporation (NYSE:VVC) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,039,849 shares of the utilities provider’s stock after acquiring an additional 21,489 shares during the quarter. Schroder Investment Management Group owned 1.25% of Vectren worth $68,630,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Arizona State Retirement System lifted its holdings in Vectren by 1.4% during the 2nd quarter. Arizona State Retirement System now owns 35,000 shares of the utilities provider’s stock valued at $2,045,000 after buying an additional 500 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in Vectren by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock valued at $387,000 after buying an additional 135 shares in the last quarter. Balyasny Asset Management LLC lifted its holdings in Vectren by 132.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 12,774 shares of the utilities provider’s stock valued at $747,000 after buying an additional 7,274 shares in the last quarter. TD Asset Management Inc. lifted 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 buying an additional 463 shares in the last quarter. Finally, Eaton Vance Management lifted its holdings in Vectren by 42.3% during the 2nd quarter. Eaton Vance Management now owns 11,271 shares of the utilities provider’s stock valued at $659,000 after buying an additional 3,351 shares in the last quarter. Hedge funds and other institutional investors own 64.02% of the company’s stock.
Shares of Vectren Corporation (VVC) traded up $0.25 on Thursday, reaching $68.75. 205,700 shares of the company were exchanged, compared to its average volume of 385,353. Vectren Corporation has a one year low of $48.41 and a one year high of $68.98. The company has a market cap of $5,685.66, a price-to-earnings ratio of 25.28, a price-to-earnings-growth ratio of 4.61 and a beta of 0.84. 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 announced its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Vectren had a net margin of 8.49% and a return on equity of 12.51%. The company had revenue of $691.20 million during the quarter, compared to analyst estimates of $615.00 million. During the same quarter last year, the business posted $0.74 EPS. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. equities analysts predict that Vectren Corporation will post 2.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th will be given a dividend of $0.45 per share. This is an increase from Vectren’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a yield of 2.62%. Vectren’s dividend payout ratio (DPR) is 66.42%.
VVC has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Vectren from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Citigroup lifted their price objective on shares of Vectren from $66.00 to $75.00 and gave the company a “buy” rating in a report on Monday, November 20th. Finally, Zacks Investment Research upgraded shares of Vectren from a “sell” rating to a “hold” rating in a report on Thursday, October 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Vectren presently has an average rating of “Buy” and an average target price of $70.00.
In other Vectren news, Director Derrick Burks bought 1,000 shares of the business’s stock in a transaction on Thursday, September 28th. The shares were acquired at an average price of $65.60 per share, with a total value of $65,600.00. Following the transaction, the director now owns 1,000 shares of the company’s stock, valued at approximately $65,600. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.
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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