Los Angeles Capital Management & Equity Research Inc. Raises Holdings in Vectren Corporation (VVC)
Los Angeles Capital Management & Equity Research Inc. raised its stake in Vectren Corporation (NYSE:VVC) by 76.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 239,298 shares of the utilities provider’s stock after purchasing an additional 103,412 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.29% of Vectren Corporation worth $13,985,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of VVC. BlackRock Inc. boosted its holdings in Vectren Corporation by 4,556.1% in the 1st quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after purchasing an additional 7,417,154 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Vectren Corporation by 119.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,190,162 shares of the utilities provider’s stock valued at $69,755,000 after purchasing an additional 647,315 shares during the period. Principal Financial Group Inc. boosted its holdings in Vectren Corporation by 86.4% in the 2nd quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after purchasing an additional 612,201 shares during the period. Vanguard Group Inc. boosted its holdings in Vectren Corporation by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock valued at $431,988,000 after purchasing an additional 276,427 shares during the period. Finally, James Investment Research Inc. boosted its holdings in Vectren Corporation by 362.9% in the 2nd quarter. James Investment Research Inc. now owns 185,455 shares of the utilities provider’s stock valued at $10,838,000 after purchasing an additional 145,393 shares during the period. 63.83% of the stock is owned by hedge funds and other institutional investors.
Shares of Vectren Corporation (NYSE:VVC) opened at 67.28 on Friday. The company has a market capitalization of $5.58 billion, a P/E ratio of 24.93 and a beta of 0.81. The firm has a 50-day moving average of $62.64 and a 200-day moving average of $59.86. Vectren Corporation has a one year low of $46.52 and a one year high of $67.39.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.02. Vectren Corporation had a net margin of 8.66% and a return on equity of 12.65%. The firm had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same period in the previous year, the company earned $0.39 earnings per share. The company’s quarterly revenue was up 18.2% on a year-over-year basis. Equities research analysts expect that Vectren Corporation will post $2.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Tuesday, August 15th were paid a $0.42 dividend. The ex-dividend date was Friday, August 11th. This represents a $1.68 annualized dividend and a dividend yield of 2.50%. Vectren Corporation’s dividend payout ratio (DPR) is presently 62.22%.
A number of analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Vectren Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. BidaskClub downgraded shares of Vectren Corporation from a “sell” rating to a “strong sell” rating in a report on Wednesday, July 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Vectren Corporation currently has an average rating of “Buy” and a consensus price target of $65.50.
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Vectren Corporation 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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