Rhumbline Advisers Cuts Stake in Vectren Corporation (VVC)

Rhumbline Advisers reduced its stake in shares of Vectren Corporation (NYSE:VVC) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 150,518 shares of the utilities provider’s stock after selling 2,323 shares during the quarter. Rhumbline Advisers owned about 0.18% of Vectren worth $9,900,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Bronfman E.L. Rothschild L.P. raised its position in Vectren by 3.3% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 2,371 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 75 shares in the last quarter. Global X Management Co. LLC increased its stake in Vectren by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 2,630 shares of the utilities provider’s stock worth $154,000 after purchasing an additional 1,810 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Vectren by 12.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,993 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 331 shares in the last quarter. Stratos Wealth Partners LTD. increased its stake in Vectren by 2.4% in the 2nd quarter. Stratos Wealth Partners LTD. now owns 3,518 shares of the utilities provider’s stock worth $206,000 after purchasing an additional 84 shares in the last quarter. Finally, Bbva Compass Bancshares Inc. purchased a new position in Vectren in the 3rd quarter worth about $206,000. Institutional investors and hedge funds own 63.99% of the company’s stock.

Vectren Corporation (VVC) traded down $0.40 on Wednesday, hitting $68.28. The stock had a trading volume of 307,200 shares, compared to its average volume of 383,314. The company has a market capitalization of $5,700.60, a PE ratio of 25.34, a PEG ratio of 4.63 and a beta of 0.83. The company has a current ratio of 0.70, a quick ratio of 0.55 and a debt-to-equity ratio of 0.90. Vectren Corporation has a 1-year low of $49.28 and a 1-year high of $69.86.

Vectren (NYSE:VVC) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.67 by $0.08. Vectren had a return on equity of 12.51% and a net margin of 8.49%. The business had revenue of $691.20 million for the quarter, compared to analysts’ expectations of $615.00 million. During the same period in the previous year, the business posted $0.74 earnings per share. Vectren’s quarterly revenue was up 9.5% on a year-over-year basis. analysts anticipate that Vectren Corporation will post 2.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Wednesday, November 15th were given a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a yield of 2.64%. This is a boost from Vectren’s previous quarterly dividend of $0.42. The ex-dividend date of this dividend was Tuesday, November 14th. Vectren’s dividend payout ratio is 66.42%.

In related news, Director Derrick Burks purchased 1,000 shares of the stock in a transaction on Thursday, September 28th. The shares were purchased at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the completion of the transaction, 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 SEC, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

VVC has been the topic of several research analyst reports. Zacks Investment Research cut Vectren from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. ValuEngine cut Vectren from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Citigroup boosted their target price on Vectren from $66.00 to $75.00 and gave the stock a “buy” rating in a report on Monday, November 20th. Finally, BidaskClub upgraded Vectren from a “hold” rating to a “buy” rating in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Vectren has a consensus rating of “Buy” and a consensus price target of $70.00.

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Vectren 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).

Institutional Ownership by Quarter for Vectren (NYSE:VVC)

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