Vaughan David Investments Inc. IL trimmed its position in shares of Vectren Corporation (NYSE:VVC) by 97.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,863 shares of the utilities provider’s stock after selling 336,873 shares during the quarter. Vaughan David Investments Inc. IL’s holdings in Vectren Corporation were worth $607,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Vectren Corporation by 3.3% during the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock valued at $139,000 after purchasing an additional 75 shares in the last quarter. Global X Management Co. LLC boosted its stake in shares of Vectren Corporation by 220.7% during the second quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock valued at $154,000 after purchasing an additional 1,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Vectren Corporation by 12.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock valued at $175,000 after purchasing an additional 331 shares in the last quarter. Bbva Compass Bancshares Inc. acquired a new stake in shares of Vectren Corporation during the third quarter valued at about $206,000. Finally, Klingenstein Fields & Co. LLC acquired a new stake in shares of Vectren Corporation during the third quarter valued at about $207,000. 62.60% of the stock is currently owned by hedge funds and other institutional investors.
VVC has been the topic of a number of recent analyst reports. BidaskClub raised Vectren Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, August 23rd. Zacks Investment Research raised Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Thursday, October 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $65.50.
Vectren Corporation (NYSE VVC) traded down $0.76 during trading on Friday, hitting $66.59. The company had a trading volume of 367,009 shares, compared to its average volume of 473,021. The company has a debt-to-equity ratio of 0.90, a quick ratio of 0.55 and a current ratio of 0.70. The firm has a market capitalization of $5,460.00, a price-to-earnings ratio of 25.17, a P/E/G ratio of 4.59 and a beta of 0.84. Vectren Corporation has a one year low of $47.44 and a one year high of $68.84.
Vectren Corporation (NYSE:VVC) last posted its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 EPS for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.08. The company had revenue of $691.20 million for the quarter, compared to analyst estimates of $615.00 million. Vectren Corporation had a return on equity of 12.51% and a net margin of 8.49%. The firm’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.74 earnings per share. analysts predict that Vectren Corporation will post 2.62 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Wednesday, November 15th will be paid a $0.45 dividend. This is a positive change from Vectren Corporation’s previous quarterly dividend of $0.42. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date is Tuesday, November 14th. Vectren Corporation’s payout ratio is currently 66.42%.
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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).
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