First Merchants Corp increased its stake in shares of Vectren Corp. (NYSE:VVC) by 6.1% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 80,778 shares of the company’s stock after buying an additional 4,641 shares during the period. Vectren Corp. makes up 1.4% of First Merchants Corp’s portfolio, making the stock its 13th largest position. First Merchants Corp owned 0.10% of Vectren Corp. worth $4,255,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Stifel Financial Corp boosted its position in shares of Vectren Corp. by 11.2% in the fourth quarter. Stifel Financial Corp now owns 49,399 shares of the company’s stock valued at $2,095,000 after buying an additional 4,980 shares during the period. Norges Bank bought a new position in shares of Vectren Corp. during the fourth quarter valued at approximately $33,584,000. Raymond James Trust N.A. boosted its position in shares of Vectren Corp. by 39.0% in the first quarter. Raymond James Trust N.A. now owns 7,650 shares of the company’s stock valued at $386,000 after buying an additional 2,148 shares during the period. Chesley Taft & Associates LLC boosted its position in shares of Vectren Corp. by 0.8% in the first quarter. Chesley Taft & Associates LLC now owns 25,725 shares of the company’s stock valued at $1,301,000 after buying an additional 200 shares during the period. Finally, Investment Centers of America Inc. bought a new position in shares of Vectren Corp. during the first quarter valued at approximately $353,000. 63.26% of the stock is owned by hedge funds and other institutional investors.
Vectren Corp. (NYSE:VVC) traded up 0.22% during mid-day trading on Tuesday, hitting $50.17. The stock had a trading volume of 219,608 shares. The stock has a market cap of $4.16 billion, a PE ratio of 22.44 and a beta of 0.57. The firm’s 50-day moving average price is $49.87 and its 200-day moving average price is $50.19. Vectren Corp. has a 1-year low of $39.43 and a 1-year high of $53.33.
Vectren Corp. (NYSE:VVC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by $0.04. The business earned $533.70 million during the quarter, compared to analyst estimates of $585.40 million. Vectren Corp. had a net margin of 8.06% and a return on equity of 10.99%. The firm’s revenue for the quarter was down 3.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, equities analysts expect that Vectren Corp. will post $2.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 1st. Stockholders of record on Monday, August 15th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Thursday, August 11th. Vectren Corp.’s dividend payout ratio is 71.43%.
VVC has been the subject of several recent research reports. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a research report on Friday, June 3rd. Citigroup Inc. raised their price objective on Vectren Corp. from $44.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th.
Vectren Corp. Company Profile
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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