18,010 Shares in Vectren Corporation (VVC) Purchased by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC purchased a new stake in Vectren Corporation (NYSE:VVC) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,010 shares of the utilities provider’s stock, valued at approximately $1,184,000.
Other institutional investors also recently modified their holdings of the company. Arizona State Retirement System boosted its holdings in Vectren by 1.4% in the 2nd quarter. Arizona State Retirement System now owns 35,000 shares of the utilities provider’s stock valued at $2,045,000 after purchasing an additional 500 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of Vectren by 2.1% during the 2nd quarter. Teacher Retirement System of Texas now owns 6,626 shares of the utilities provider’s stock worth $387,000 after acquiring an additional 135 shares during the period. Schroder Investment Management Group lifted its holdings in shares of Vectren by 5.2% during the 2nd quarter. Schroder Investment Management Group now owns 1,018,360 shares of the utilities provider’s stock worth $59,757,000 after acquiring an additional 50,768 shares during the period. Balyasny Asset Management LLC lifted its holdings in shares of Vectren by 132.3% during the 2nd quarter. Balyasny Asset Management LLC now owns 12,774 shares of the utilities provider’s stock worth $747,000 after acquiring an additional 7,274 shares during the period. Finally, TD Asset Management Inc. lifted its holdings in shares of Vectren by 5.7% during the 2nd quarter. TD Asset Management Inc. now owns 8,551 shares of the utilities provider’s stock worth $500,000 after acquiring an additional 463 shares during the period. 63.99% of the stock is owned by hedge funds and other institutional investors.
VVC has been the subject of a number of analyst reports. Zacks Investment Research downgraded shares of Vectren from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Citigroup raised their price objective on shares of Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 20th. ValuEngine downgraded shares of Vectren from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, BidaskClub raised shares of Vectren from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $70.00.
Vectren (NYSE:VVC) last announced its earnings results on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.67 by $0.08. The business had revenue of $691.20 million during the quarter, compared to analysts’ expectations of $615.00 million. Vectren had a net margin of 8.49% and a return on equity of 12.51%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter last year, the company posted $0.74 EPS. equities analysts predict that Vectren Corporation will post 2.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Wednesday, November 15th were given a dividend of $0.45 per share. The ex-dividend date was Tuesday, November 14th. This represents a $1.80 dividend on an annualized basis and a dividend yield of 2.61%. This is a boost from Vectren’s previous quarterly dividend of $0.42. Vectren’s dividend payout ratio (DPR) is 66.42%.
In other news, Director Derrick Burks bought 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $65,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.14% of the company’s stock.
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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