Vaughan David Investments LLC IL reduced its holdings in shares of Vectren Corp (NYSE:VVC) by 8.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 234,527 shares of the utilities provider’s stock after selling 21,270 shares during the period. Vaughan David Investments LLC IL’s holdings in Vectren were worth $16,766,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Board of Administration of Florida Retirement System raised its position in Vectren by 0.6% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 126,822 shares of the utilities provider’s stock valued at $9,067,000 after purchasing an additional 720 shares in the last quarter. Parallel Advisors LLC raised its position in Vectren by 22.5% during the 2nd quarter. Parallel Advisors LLC now owns 4,156 shares of the utilities provider’s stock valued at $296,000 after purchasing an additional 763 shares in the last quarter. Victory Capital Management Inc. raised its position in Vectren by 0.4% during the 2nd quarter. Victory Capital Management Inc. now owns 227,318 shares of the utilities provider’s stock valued at $16,242,000 after purchasing an additional 835 shares in the last quarter. Field & Main Bank raised its position in Vectren by 18.8% during the 2nd quarter. Field & Main Bank now owns 5,850 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 925 shares in the last quarter. Finally, Creative Planning raised its position in Vectren by 8.6% during the 2nd quarter. Creative Planning now owns 12,089 shares of the utilities provider’s stock valued at $864,000 after purchasing an additional 953 shares in the last quarter. 65.70% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research raised Vectren from a “sell” rating to a “hold” rating in a research report on Friday. Six analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and a consensus target price of $66.00.
Vectren (NYSE:VVC) last released its quarterly earnings results on Monday, November 5th. The utilities provider reported $0.61 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.74 by ($0.13). The company had revenue of $665.00 million during the quarter, compared to the consensus estimate of $707.00 million. Vectren had a return on equity of 12.10% and a net margin of 7.37%. The company’s revenue was down 3.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.75 earnings per share. Research analysts expect that Vectren Corp will post 2.87 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, December 3rd. Stockholders of record on Thursday, November 15th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.67%. This is a positive change from Vectren’s previous quarterly dividend of $0.45. The ex-dividend date is Wednesday, November 14th. Vectren’s payout ratio is presently 73.85%.
Vectren Corporation provides energy delivery services to residential, commercial, and industrial and other contract customers. The company offers natural gas distribution and transportation services, and electric transmission and distribution services; and owns and operates coal-fired, natural gas or oil-fired, and landfill gas electric generating facilities with an installed generating capacity of 1,248 megawatts.
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