Nan Shan Life Insurance Co. Ltd. Makes New $5.40 Million Investment in Versigent $VGNT

Nan Shan Life Insurance Co. Ltd. purchased a new stake in Versigent (NYSE:VGNT) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 128,541 shares of the company’s stock, valued at approximately $5,400,000.

Other institutional investors have also modified their holdings of the company. Wellington Management Group LLP bought a new position in Versigent in the second quarter worth about $940,000. Ancora Advisors LLC acquired a new stake in shares of Versigent during the 2nd quarter worth approximately $4,197,000. Finally, Kintegral Advisory LLC bought a new stake in shares of Versigent in the 2nd quarter worth approximately $224,000.

Versigent Price Performance

NYSE VGNT opened at $46.22 on Wednesday. Versigent has a 12 month low of $26.34 and a 12 month high of $50.88. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. The company’s 50 day moving average is $43.36. The firm has a market capitalization of $3.27 billion and a price-to-earnings ratio of 24.07.

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

Versigent Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%.

Analysts Set New Price Targets

A number of research firms recently issued reports on VGNT. The Goldman Sachs Group restated a “buy” rating and set a $59.00 price objective on shares of Versigent in a research report on Wednesday, August 5th. TD Cowen boosted their price target on shares of Versigent from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $54.00 price target on shares of Versigent in a research report on Wednesday, August 5th. Wells Fargo & Company increased their price objective on shares of Versigent from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Finally, UBS Group reduced their target price on shares of Versigent from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Eleven equities research 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 company currently has a consensus rating of “Moderate Buy” and an average price target of $54.00.

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.