Goldman Sachs Group Inc. trimmed its holdings in Vectren Corporation (NYSE:VVC) by 56.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 517,919 shares of the utilities provider’s stock after selling 672,243 shares during the quarter. Goldman Sachs Group Inc. owned about 0.62% of Vectren Corporation worth $30,268,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. raised its holdings 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 during the last quarter. Vanguard Group Inc. raised its holdings in shares of Vectren Corporation by 2.5% in the second quarter. Vanguard Group Inc. now owns 7,553,087 shares of the utilities provider’s stock valued at $441,403,000 after buying an additional 182,550 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Vectren Corporation by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,553,855 shares of the utilities provider’s stock valued at $90,808,000 after buying an additional 5,569 shares during the last quarter. Principal Financial Group Inc. raised its holdings in shares of Vectren Corporation by 86.4% in the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after buying an additional 612,201 shares during the last quarter. Finally, Epoch Investment Partners Inc. raised its holdings in shares of Vectren Corporation by 8.2% in the second quarter. Epoch Investment Partners Inc. now owns 1,131,600 shares of the utilities provider’s stock valued at $66,131,000 after buying an additional 85,364 shares during the last quarter. 63.11% of the stock is owned by institutional investors and hedge funds.
Vectren Corporation (NYSE VVC) opened at 66.38 on Wednesday. Vectren Corporation has a 12-month low of $46.52 and a 12-month high of $68.30. The company has a market capitalization of $5.51 billion, a PE ratio of 24.59 and a beta of 0.81. The company has a 50 day moving average price of $66.20 and a 200-day moving average price of $61.42.
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 business had revenue of $630.70 million for the quarter, compared to analyst estimates of $565.12 million. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. Vectren Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same period last year, the firm posted $0.39 earnings per share. On average, analysts anticipate that Vectren Corporation will post $2.63 EPS for the current year.
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In other Vectren Corporation news, Director Derrick Burks acquired 1,000 shares of Vectren Corporation stock in a transaction that occurred on Thursday, September 28th. The shares were acquired at an average cost of $65.60 per share, with a total value of $65,600.00. Following the completion of the purchase, the director now directly owns 1,000 shares of the company’s stock, valued at approximately $65,600. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.14% of the company’s stock.
A number of research firms recently issued reports on VVC. Zacks Investment Research raised Vectren Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, September 12th. BidaskClub raised Vectren Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price 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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