Foster & Motley Inc. decreased its stake in shares of Vectren Corporation (NYSE:VVC) by 2.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 22,230 shares of the utilities provider’s stock after selling 489 shares during the period. Foster & Motley Inc.’s holdings in Vectren Corporation were worth $1,299,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. 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. 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. Vanguard Group Inc. boosted its position in Vectren Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock worth $431,988,000 after buying an additional 276,427 shares in the last quarter. First Quadrant L P CA boosted its position in Vectren Corporation by 86.0% in the first quarter. First Quadrant L P CA now owns 526,223 shares of the utilities provider’s stock worth $30,842,000 after buying an additional 243,297 shares in the last quarter. Finally, James Investment Research Inc. boosted its position in Vectren Corporation by 362.9% in the second quarter. James Investment Research Inc. now owns 185,455 shares of the utilities provider’s stock worth $10,838,000 after buying an additional 145,393 shares in the last quarter. 64.45% of the stock is owned by institutional investors.
Vectren Corporation (VVC) opened at 60.91 on Friday. Vectren Corporation has a 1-year low of $46.52 and a 1-year high of $62.79. The firm has a 50-day moving average of $59.63 and a 200-day moving average of $58.75. The stock has a market cap of $5.05 billion, a PE ratio of 22.57 and a beta of 0.81.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. The firm 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 firm’s quarterly revenue was up 18.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.39 earnings per share. Analysts expect that Vectren Corporation will post $2.62 EPS for the current fiscal year.
The company also recently disclosed 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. The ex-dividend date is Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.76%. Vectren Corporation’s payout ratio is currently 62.22%.
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A number of research firms have commented on VVC. Zacks Investment Research cut shares of Vectren Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Friday, August 4th. Finally, Citigroup Inc. boosted their price target on shares of Vectren Corporation from $58.00 to $66.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target 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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