Vectren Corporation (VVC) Shares Bought by Citigroup Inc.
Citigroup Inc. raised its position in Vectren Corporation (NYSE:VVC) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,042 shares of the utilities provider’s stock after acquiring an additional 3,076 shares during the quarter. Citigroup Inc.’s holdings in Vectren Corporation were worth $1,230,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VVC. BlackRock Inc. increased its stake in Vectren Corporation by 4,556.1% during the first quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock worth $444,258,000 after purchasing an additional 7,417,154 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Vectren Corporation by 119.2% during the first quarter. Goldman Sachs Group Inc. now owns 1,190,162 shares of the utilities provider’s stock worth $69,755,000 after purchasing an additional 647,315 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Vectren Corporation by 86.4% during the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock worth $77,173,000 after purchasing an additional 612,201 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Vectren Corporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock worth $431,988,000 after purchasing an additional 276,427 shares in the last quarter. Finally, James Investment Research Inc. lifted its position in shares of Vectren Corporation by 362.9% during the second quarter. James Investment Research Inc. now owns 185,455 shares of the utilities provider’s stock worth $10,838,000 after purchasing an additional 145,393 shares in the last quarter. 63.11% of the stock is owned by institutional investors.
VVC has been the subject of several recent research reports. Zacks Investment Research raised shares of Vectren Corporation from a “sell” rating to a “hold” rating in a research note on Friday, September 22nd. BidaskClub upgraded shares of Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and an average target price of $65.50.
Shares of Vectren Corporation (NYSE:VVC) opened at 66.11 on Wednesday. The stock has a market cap of $5.49 billion, a price-to-earnings ratio of 24.49 and a beta of 0.81. The stock’s 50 day moving average price is $65.47 and its 200-day moving average price is $61.13. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.30.
Vectren Corporation (NYSE:VVC) last released its quarterly earnings data on Thursday, August 3rd. The utilities provider reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.02. The company had revenue of $630.70 million for 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 quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business posted $0.39 EPS. On average, analysts predict that Vectren Corporation will post $2.63 earnings per share for the current fiscal year.
In other news, Director Derrick Burks bought 1,000 shares of the firm’s stock in a transaction dated Thursday, September 28th. The stock was acquired at an average price of $65.60 per share, for a total transaction of $65,600.00. Following the acquisition, the director now owns 1,000 shares of the company’s stock, valued at $65,600. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.14% of the company’s stock.
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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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