Verition Fund Management LLC Grows Stake in Vectren Corp (VVC)
Verition Fund Management LLC lifted its position in shares of Vectren Corp (NYSE:VVC) by 1,049.9% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 76,814 shares of the utilities provider’s stock after buying an additional 70,134 shares during the quarter. Verition Fund Management LLC owned approximately 0.09% of Vectren worth $4,910,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in VVC. Schwab Charles Investment Management Inc. raised its stake in shares of Vectren by 4.9% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 419,824 shares of the utilities provider’s stock worth $27,297,000 after buying an additional 19,582 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Vectren by 49.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,480 shares of the utilities provider’s stock worth $291,000 after buying an additional 1,487 shares during the last quarter. Victory Capital Management Inc. raised its stake in Vectren by 12.7% in the 4th quarter. Victory Capital Management Inc. now owns 40,495 shares of the utilities provider’s stock valued at $2,633,000 after purchasing an additional 4,552 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new position in Vectren in the 4th quarter valued at about $163,000. Finally, ING Groep NV raised its stake in Vectren by 23.2% in the 4th quarter. ING Groep NV now owns 12,524 shares of the utilities provider’s stock valued at $814,000 after purchasing an additional 2,361 shares during the last quarter. 66.39% of the stock is owned by institutional investors and hedge funds.
Shares of Vectren opened at $70.79 on Thursday, Marketbeat Ratings reports. Vectren Corp has a twelve month low of $57.48 and a twelve month high of $70.90. The stock has a market capitalization of $5.85 billion, a P/E ratio of 27.22, a PEG ratio of 3.51 and a beta of 0.60. The company has a debt-to-equity ratio of 0.89, a current ratio of 0.61 and a quick ratio of 0.49.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 1st. Shareholders of record on Tuesday, May 15th were issued a $0.45 dividend. This represents a $1.80 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, May 14th. Vectren’s dividend payout ratio (DPR) is 69.23%.
Several brokerages recently weighed in on VVC. Zacks Investment Research downgraded shares of Vectren from a “hold” rating to a “sell” rating in a research note on Wednesday, May 9th. Citigroup downgraded shares of Vectren from a “buy” rating to a “neutral” rating and set a $72.00 target price for the company. in a research note on Wednesday, April 25th. Guggenheim reissued a “hold” rating and issued a $61.00 target price on shares of Vectren in a research note on Friday, February 23rd. Finally, Bank of America reissued a “neutral” rating on shares of Vectren in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. Vectren has an average rating of “Hold” and an average target price of $66.00.
Vectren Company Profile
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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