Steamboat Capital Partners LLC Invests $10.38 Million in Versigent $VGNT

Steamboat Capital Partners LLC purchased a new position in shares of Versigent (NYSE:VGNT) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 247,200 shares of the company’s stock, valued at approximately $10,385,000. Versigent comprises about 2.2% of Steamboat Capital Partners LLC’s holdings, making the stock its 13th biggest holding.

Several other large investors have also made changes to their positions in the business. California State Teachers Retirement System acquired a new position in Versigent during the second quarter valued at $143,056,000. Allianz Asset Management GmbH acquired a new stake in Versigent during the 2nd quarter worth about $20,602,000. Nan Shan Life Insurance Co. Ltd. purchased a new position in shares of Versigent during the 2nd quarter valued at about $5,400,000. Ancora Advisors LLC purchased a new position in shares of Versigent during the 2nd quarter valued at about $4,197,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Versigent in the 2nd quarter valued at about $2,417,000.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Argus upped their price objective on Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, August 13th. Royal Bank Of Canada upgraded shares of Versigent from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $41.00 to $52.00 in a research note on Wednesday, August 5th. Oppenheimer set a $50.00 price target on shares of Versigent in a research report on Tuesday, July 21st. Weiss Ratings initiated coverage on shares of Versigent in a research report on Wednesday, August 5th. They issued a “hold (c)” rating for the company. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $59.00 target price on shares of Versigent in a research note on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $54.00.

Versigent Stock Performance

NYSE VGNT opened at $47.44 on Wednesday. The company has a fifty day moving average price of $44.08. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The firm has a market cap of $3.36 billion and a P/E ratio of 24.71. Versigent has a one year low of $26.34 and a one year high of $50.88.

Versigent (NYSE:VGNT) last released its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analysts’ expectations of $2.29 billion. As a group, sell-side analysts predict that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th.

Versigent Company Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.