First Financial Corp IN Sells 822 Shares of Vectren Corp. (VVC)
First Financial Corp IN decreased its position in Vectren Corp. (NYSE:VVC) by 1.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,048 shares of the company’s stock after selling 822 shares during the period. Vectren Corp. makes up 2.4% of First Financial Corp IN’s investment portfolio, making the stock its 4th largest position. First Financial Corp IN’s holdings in Vectren Corp. were worth $4,119,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp increased its position in Vectren Corp. by 4.6% in the second quarter. State Street Corp now owns 5,625,462 shares of the company’s stock worth $296,293,000 after buying an additional 248,167 shares during the period. BlackRock Fund Advisors increased its position in Vectren Corp. by 7.2% in the second quarter. BlackRock Fund Advisors now owns 3,061,476 shares of the company’s stock worth $161,248,000 after buying an additional 204,302 shares during the period. Highbridge Capital Management LLC purchased a new position in Vectren Corp. during the second quarter worth $8,479,000. First Quadrant L P CA increased its position in Vectren Corp. by 86.5% in the second quarter. First Quadrant L P CA now owns 264,297 shares of the company’s stock worth $13,921,000 after buying an additional 122,597 shares during the period. Finally, Societe Generale purchased a new position in Vectren Corp. during the second quarter worth $4,677,000. 62.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Vectren Corp. (NYSE:VVC) traded down 4.05% during mid-day trading on Wednesday, reaching $49.08. The company’s stock had a trading volume of 520,931 shares. Vectren Corp. has a 12 month low of $39.43 and a 12 month high of $53.33. The company has a 50-day moving average of $48.72 and a 200-day moving average of $50.01. The company has a market cap of $4.07 billion, a P/E ratio of 19.61 and a beta of 0.64.
Vectren Corp. (NYSE:VVC) last posted its earnings results on Wednesday, November 2nd. The company reported $0.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.64 by $0.10. The company had revenue of $631 million for the quarter, compared to analysts’ expectations of $611.78 million. Vectren Corp. had a return on equity of 12.16% and a net margin of 8.80%. Vectren Corp.’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Equities research analysts forecast that Vectren Corp. will post $2.50 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th will be issued a $0.42 dividend. The ex-dividend date is Thursday, November 10th. This is a positive change from Vectren Corp.’s previous quarterly dividend of $0.40. This represents a $1.68 annualized dividend and a yield of 3.42%. Vectren Corp.’s dividend payout ratio (DPR) is 67.20%.
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A number of brokerages have commented on VVC. Zacks Investment Research raised Vectren Corp. from a “sell” rating to a “hold” rating in a report on Tuesday, September 13th. Guggenheim began coverage on Vectren Corp. in a report on Thursday, November 3rd. They set a “neutral” rating for the company.
About Vectren Corp.
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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