Vectren Corporation (VVC) Position Lowered by Northern Trust Corp
Northern Trust Corp lowered its stake in Vectren Corporation (NYSE:VVC) by 0.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 996,636 shares of the utilities provider’s stock after selling 3,844 shares during the period. Northern Trust Corp owned approximately 1.20% of Vectren Corporation worth $58,244,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Arizona State Retirement System increased its position in shares of Vectren Corporation by 1.4% in the second quarter. Arizona State Retirement System now owns 35,000 shares of the utilities provider’s stock worth $2,045,000 after purchasing an additional 500 shares during the period. Teacher Retirement System of Texas increased its position in shares of Vectren Corporation by 2.1% in the second quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock worth $387,000 after purchasing an additional 135 shares during the period. Schroder Investment Management Group increased its position in shares of Vectren Corporation by 5.2% in the second quarter. Schroder Investment Management Group now owns 1,018,360 shares of the utilities provider’s stock worth $59,757,000 after purchasing an additional 50,768 shares during the period. Dalton Greiner Hartman Maher & Co. increased its position in shares of Vectren Corporation by 1.7% in the second quarter. Dalton Greiner Hartman Maher & Co. now owns 295,176 shares of the utilities provider’s stock worth $17,250,000 after purchasing an additional 4,972 shares during the period. Finally, TD Asset Management Inc. increased its position in shares of Vectren Corporation by 5.7% in the second quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock worth $500,000 after purchasing an additional 463 shares during the period. Institutional investors own 63.11% of the company’s stock.
Vectren Corporation (VVC) opened at 65.95 on Friday. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.30. The firm has a 50-day moving average price of $65.77 and a 200-day moving average price of $61.20. The company has a market cap of $5.47 billion, a PE ratio of 24.43 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last issued its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The business had revenue of $630.70 million for the quarter, compared to analysts’ expectations of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.39 EPS. On average, analysts forecast that Vectren Corporation will post $2.63 EPS for the current year.
A number of brokerages recently commented on VVC. BidaskClub upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research cut Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $65.50.
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In other Vectren Corporation news, Director Derrick Burks purchased 1,000 shares of the stock in a transaction on Thursday, September 28th. The shares were purchased at an average price of $65.60 per share, with a total value of $65,600.00. Following the acquisition, the director now directly owns 1,000 shares in the company, valued at approximately $65,600. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company’s stock.
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).
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