Vectren Corporation (VVC) Position Cut by Principal Financial Group Inc.
Principal Financial Group Inc. reduced its position in shares of Vectren Corporation (NYSE:VVC) by 0.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,314,329 shares of the company’s stock after selling 6,228 shares during the period. Principal Financial Group Inc. owned 1.58% of Vectren Corporation worth $86,444,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in VVC. State Street Corp increased its position in Vectren Corporation by 14.6% during the second quarter. State Street Corp now owns 5,808,728 shares of the company’s stock worth $339,461,000 after purchasing an additional 740,825 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its position in shares of Vectren Corporation by 1,761.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 348,171 shares of the company’s stock valued at $20,347,000 after acquiring an additional 329,471 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Vectren Corporation during the third quarter valued at about $20,101,000. Vanguard Group Inc. increased its position in shares of Vectren Corporation by 2.5% during the second quarter. Vanguard Group Inc. now owns 7,553,087 shares of the company’s stock valued at $441,403,000 after acquiring an additional 182,550 shares during the last quarter. Finally, Janus Henderson Group PLC acquired a new stake in shares of Vectren Corporation during the second quarter valued at about $9,000,000. Hedge funds and other institutional investors own 62.60% of the company’s stock.
In other Vectren Corporation news, Director Derrick Burks acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, September 28th. The stock was purchased at an average price of C$65.60 per share, for a total transaction of C$65,600.00. Following the completion of the acquisition, the director now owns 1,000 shares of the company’s stock, valued at approximately C$65,600. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.
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Shares of Vectren Corporation (VVC) opened at C$66.46 on Monday. Vectren Corporation has a 12-month low of C$47.01 and a 12-month high of C$68.84. The firm has a market cap of $5,516.34, a PE ratio of 24.52, a price-to-earnings-growth ratio of 4.48 and a beta of 0.84. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70.
Vectren Corporation (NYSE:VVC) last announced its quarterly earnings results on Thursday, November 2nd. The company reported C$0.75 earnings per share for the quarter, beating analysts’ consensus estimates of C$0.67 by C$0.08. Vectren Corporation had a net margin of 8.49% and a return on equity of 12.51%. The business had revenue of C$691.20 million during the quarter, compared to analysts’ expectations of C$615.00 million. During the same period last year, the business earned $0.74 earnings per share. The business’s revenue for the quarter was up 9.5% on a year-over-year basis. equities research analysts anticipate that Vectren Corporation will post 2.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be issued a $0.45 dividend. The ex-dividend date is Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Vectren Corporation’s previous quarterly dividend of $0.42. Vectren Corporation’s payout ratio is 61.99%.
A number of brokerages have weighed in on VVC. Zacks Investment Research upgraded shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, October 12th. BidaskClub upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Vectren Corporation has an average rating of “Buy” and an average target price of C$65.50.
Vectren Corporation 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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