Vectren Corporation (VVC) Stake Held by United Fire Group Inc.
United Fire Group Inc. held its position in Vectren Corporation (NYSE:VVC) during the second quarter, Holdings Channel reports. The institutional investor owned 26,658 shares of the utilities provider’s stock at the end of the second quarter. United Fire Group Inc.’s holdings in Vectren Corporation were worth $1,558,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of VVC. First Merchants Corp boosted its position in Vectren Corporation by 0.3% in the first quarter. First Merchants Corp now owns 82,159 shares of the utilities provider’s stock worth $4,815,000 after buying an additional 217 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Vectren Corporation by 30.0% in the first quarter. IFP Advisors Inc now owns 7,427 shares of the utilities provider’s stock valued at $435,000 after buying an additional 1,715 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Vectren Corporation by 11.7% in the first quarter. Russell Investments Group Ltd. now owns 43,505 shares of the utilities provider’s stock valued at $2,550,000 after buying an additional 4,552 shares during the last quarter. First Quadrant L P CA boosted its position in shares of Vectren Corporation by 86.0% in the first quarter. First Quadrant L P CA now owns 526,223 shares of the utilities provider’s stock valued at $30,842,000 after buying an additional 243,297 shares during the last quarter. Finally, Glen Harbor Capital Management LLC boosted its position in shares of Vectren Corporation by 17.3% in the first quarter. Glen Harbor Capital Management LLC now owns 7,458 shares of the utilities provider’s stock valued at $437,000 after buying an additional 1,100 shares during the last quarter. 64.57% of the stock is owned by institutional investors.
Vectren Corporation (NYSE VVC) opened at 61.16 on Friday. The company has a market cap of $5.07 billion, a PE ratio of 22.66 and a beta of 0.81. Vectren Corporation has a 12 month low of $46.52 and a 12 month high of $62.79. The stock’s 50 day moving average is $59.46 and its 200 day moving average is $58.49.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The company had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same quarter in the previous year, the firm posted $0.39 EPS. The business’s revenue was up 18.2% compared to the same quarter last year. Equities analysts predict that Vectren Corporation will post $2.62 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Tuesday, August 15th will be issued 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 2.75%. Vectren Corporation’s payout ratio is 62.22%.
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Several brokerages have recently commented on VVC. Zacks Investment Research cut shares of Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub raised shares of Vectren Corporation from a “strong sell” rating to a “sell” rating in a research report on Monday, July 24th. Finally, Citigroup Inc. increased their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research 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. The company presently has a consensus rating of “Buy” and a consensus price target 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).
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