BlackRock Inc. decreased its holdings in shares of Vectren Corp (NYSE:VVC) by 10.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 7,224,816 shares of the utilities provider’s stock after selling 854,175 shares during the quarter. BlackRock Inc. owned about 0.09% of Vectren worth $516,213,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in VVC. Millennium Management LLC boosted its position in shares of Vectren by 116.6% during the 1st quarter. Millennium Management LLC now owns 1,465,982 shares of the utilities provider’s stock valued at $93,706,000 after purchasing an additional 789,320 shares in the last quarter. Water Island Capital LLC bought a new stake in shares of Vectren during the 2nd quarter valued at about $51,108,000. Cornerstone Wealth Management LLC boosted its position in shares of Vectren by 7,508.9% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 453,338 shares of the utilities provider’s stock valued at $6,341,000 after purchasing an additional 447,380 shares in the last quarter. IndexIQ Advisors LLC bought a new stake in shares of Vectren during the 2nd quarter valued at about $27,799,000. Finally, Victory Capital Management Inc. boosted its position in shares of Vectren by 459.3% during the 1st quarter. Victory Capital Management Inc. now owns 226,483 shares of the utilities provider’s stock valued at $14,477,000 after purchasing an additional 185,988 shares in the last quarter. Institutional investors own 65.76% of the company’s stock.
Shares of Vectren stock opened at $71.60 on Friday. Vectren Corp has a one year low of $58.00 and a one year high of $71.74. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.58 and a current ratio of 0.71. The stock has a market cap of $5.94 billion, a P/E ratio of 27.54, a price-to-earnings-growth ratio of 3.56 and a beta of 0.42.
Vectren (NYSE:VVC) last announced its earnings results on Wednesday, August 1st. The utilities provider reported $0.56 EPS for the quarter, beating the consensus estimate of $0.51 by $0.05. The company had revenue of $644.00 million for the quarter, compared to analyst estimates of $688.00 million. Vectren had a return on equity of 12.33% and a net margin of 7.72%. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.45 EPS. equities research analysts expect that Vectren Corp will post 2.87 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 4th. Shareholders of record on Wednesday, August 15th were issued a $0.45 dividend. The ex-dividend date was Tuesday, August 14th. This represents a $1.80 annualized dividend and a yield of 2.51%. Vectren’s payout ratio is currently 69.23%.
Vectren Company Profile
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.
Read More: How to Invest in Marijuana Stocks
Want to see what other hedge funds are holding VVC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Vectren Corp (NYSE:VVC).
Receive News & Ratings for Vectren Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Vectren and related companies with MarketBeat.com's FREE daily email newsletter.