Versigent (NYSE:VGNT) Director Kevin Clark Sells 48,592 Shares of Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 48,592 shares of the company’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,333,387.84. Following the completion of the sale, the director owned 198,979 shares of the company’s stock, valued at approximately $9,554,971.58. This trade represents a 19.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Versigent Stock Up 1.6%

NYSE:VGNT traded up $0.71 during trading hours on Thursday, reaching $46.45. 470,596 shares of the company’s stock were exchanged, compared to its average volume of 1,777,686. Versigent has a 1-year low of $26.34 and a 1-year high of $50.88. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. The firm has a market cap of $3.29 billion and a price-to-earnings ratio of 24.19. The firm’s 50-day moving average is $44.16.

Versigent (NYSE:VGNT) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. Research analysts forecast that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.1%.

Analyst Ratings Changes

VGNT has been the subject of a number of recent research reports. Weiss Ratings initiated coverage on Versigent in a research report on Wednesday, August 5th. They set a “hold (c)” rating for the company. Fox Advisors cut Versigent from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, August 5th. Zacks Research downgraded Versigent from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Argus raised their price objective on shares of Versigent from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, August 13th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $59.00 target price on shares of Versigent in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $54.00.

Institutional Investors Weigh In On Versigent

A number of institutional investors and hedge funds have recently modified their holdings of the company. California State Teachers Retirement System purchased a new position in Versigent in the 2nd quarter valued at approximately $143,056,000. Allianz Asset Management GmbH purchased a new position in shares of Versigent in the second quarter valued at $20,602,000. Steamboat Capital Partners LLC acquired a new position in shares of Versigent during the 2nd quarter worth $10,385,000. WINTON GROUP Ltd purchased a new stake in shares of Versigent in the 2nd quarter worth about $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. purchased a new stake in shares of Versigent in the 2nd quarter worth about $5,400,000.

About Versigent

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.