Teachers Retirement System of The State of Kentucky Reduces Stake in Vectren Corporation (NYSE:VVC)

Teachers Retirement System of The State of Kentucky cut its stake in Vectren Corporation (NYSE:VVC) by 8.9% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,030 shares of the utilities provider’s stock after selling 1,870 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Vectren Corporation were worth $1,115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Vectren Corporation by 4,556.1% in the first quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after buying an additional 7,417,154 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Vectren Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock valued at $431,988,000 after buying an additional 276,427 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Vectren Corporation by 4.4% in the first quarter. Bank of New York Mellon Corp now owns 1,548,286 shares of the utilities provider’s stock valued at $90,744,000 after buying an additional 65,214 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Vectren Corporation by 119.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,190,162 shares of the utilities provider’s stock valued at $69,755,000 after buying an additional 647,315 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in shares of Vectren Corporation by 15.1% in the first quarter. Epoch Investment Partners Inc. now owns 1,046,236 shares of the utilities provider’s stock valued at $61,320,000 after buying an additional 137,179 shares in the last quarter. Hedge funds and other institutional investors own 64.57% of the company’s stock.

Shares of Vectren Corporation (NYSE:VVC) traded down 1.00% during mid-day trading on Friday, reaching $60.13. The company’s stock had a trading volume of 415,430 shares. The company has a market capitalization of $4.99 billion, a price-to-earnings ratio of 22.28 and a beta of 0.81. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79. The company’s 50 day moving average price is $59.46 and its 200-day moving average price is $58.49.

Vectren Corporation (NYSE:VVC) last issued its earnings results 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 during the quarter, compared to the consensus estimate of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.39 EPS. Analysts predict that Vectren Corporation will post $2.62 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Tuesday, August 15th will be issued a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date of this dividend is Friday, August 11th. Vectren Corporation’s dividend payout ratio is currently 62.22%.

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VVC has been the topic of several research analyst reports. Zacks Investment Research lowered Vectren Corporation from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub raised Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Finally, Citigroup Inc. raised their price objective on Vectren Corporation from $58.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $65.50.

Vectren Corporation Company Profile

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).

Institutional Ownership by Quarter for Vectren Corporation (NYSE:VVC)

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