Wedge Capital Management L L P NC decreased its stake in Vectren Corporation (NYSE:VVC) by 2.0% during the second quarter, Holdings Channel reports. The institutional investor owned 579,193 shares of the utilities provider’s stock after selling 11,902 shares during the period. Wedge Capital Management L L P NC’s holdings in Vectren Corporation were worth $33,848,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the company. Eqis Capital Management Inc. boosted its position in shares of Vectren Corporation by 0.6% in the second quarter. Eqis Capital Management Inc. now owns 3,921 shares of the utilities provider’s stock worth $229,000 after buying an additional 25 shares in the last quarter. World Asset Management Inc boosted its position in shares of Vectren Corporation by 0.8% in the first quarter. World Asset Management Inc now owns 5,686 shares of the utilities provider’s stock worth $333,000 after buying an additional 46 shares in the last quarter. FormulaFolio Investments LLC boosted its position in shares of Vectren Corporation by 0.9% in the first quarter. FormulaFolio Investments LLC now owns 6,329 shares of the utilities provider’s stock worth $371,000 after buying an additional 55 shares in the last quarter. Oakbrook Investments LLC boosted its position in shares of Vectren Corporation by 2.0% in the second quarter. Oakbrook Investments LLC now owns 3,540 shares of the utilities provider’s stock worth $207,000 after buying an additional 70 shares in the last quarter. Finally, Stratos Wealth Partners LTD. boosted its position in shares of Vectren Corporation by 2.4% in the second quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock worth $206,000 after buying an additional 84 shares in the last quarter. Institutional investors own 64.57% of the company’s stock.

Vectren Corporation (VVC) opened at 60.13 on Friday. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $62.79. The stock has a 50 day moving average of $59.46 and a 200 day moving average of $58.53. The firm has a market cap of $4.99 billion, a PE ratio of 22.28 and a beta of 0.81.

Vectren Corporation (NYSE:VVC) last announced its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $630.70 million during the quarter, compared to the consensus estimate of $565.12 million. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The company’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.39 EPS. On average, equities research analysts anticipate that Vectren Corporation will post $2.62 EPS for the current fiscal 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 given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a dividend yield of 2.79%. The ex-dividend date is Friday, August 11th. Vectren Corporation’s dividend payout ratio (DPR) is 62.22%.

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A number of brokerages recently issued reports on VVC. Zacks Investment Research cut shares of Vectren Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub upgraded shares of Vectren Corporation from a “strong sell” rating to a “sell” rating in a report on Monday, July 24th. Finally, Citigroup Inc. boosted their price objective on shares of Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price 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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Institutional Ownership by Quarter for Vectren Corporation (NYSE:VVC)

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