Alliancebernstein L.P. Sells 1,470 Shares of Vectren Corporation (VVC)

Alliancebernstein L.P. lowered its position in Vectren Corporation (NYSE:VVC) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,702 shares of the utilities provider’s stock after selling 1,470 shares during the period. Alliancebernstein L.P. owned approximately 0.06% of Vectren Corporation worth $2,788,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. BlackRock Inc. boosted its position in Vectren Corporation by 4,556.1% in the first quarter. BlackRock Inc. now owns 7,579,951 shares of the utilities provider’s stock valued at $444,258,000 after buying an additional 7,417,154 shares during the last quarter. Vanguard Group Inc. boosted its position in Vectren Corporation by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,370,537 shares of the utilities provider’s stock valued at $431,988,000 after buying an additional 276,427 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Vectren Corporation by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 1,553,855 shares of the utilities provider’s stock valued at $90,808,000 after buying an additional 5,569 shares during the last quarter. Principal Financial Group Inc. boosted its position in Vectren Corporation by 86.4% in the second quarter. Principal Financial Group Inc. now owns 1,320,557 shares of the utilities provider’s stock valued at $77,173,000 after buying an additional 612,201 shares during the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in Vectren Corporation by 119.2% in the first quarter. Goldman Sachs Group Inc. now owns 1,190,162 shares of the utilities provider’s stock valued at $69,755,000 after buying an additional 647,315 shares during the last quarter. Hedge funds and other institutional investors own 63.11% of the company’s stock.

Shares of Vectren Corporation (NYSE:VVC) opened at 66.71 on Thursday. The stock has a market cap of $5.54 billion, a price-to-earnings ratio of 24.72 and a beta of 0.81. Vectren Corporation has a 52-week low of $46.52 and a 52-week high of $68.30. The firm has a 50-day moving average price of $66.22 and a 200 day moving average price of $61.46.

Vectren Corporation (NYSE:VVC) last announced its earnings results on Thursday, August 3rd. The utilities provider reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.02. Vectren Corporation had a return on equity of 12.65% and a net margin of 8.66%. The company had revenue of $630.70 million for the quarter, compared to the consensus estimate of $565.12 million. During the same period last year, the business posted $0.39 EPS. The company’s revenue was up 18.2% on a year-over-year basis. Analysts expect that Vectren Corporation will post $2.63 earnings per share for the current year.

A number of equities research analysts recently commented on the company. BidaskClub upgraded Vectren Corporation from a “sell” rating to a “hold” rating in a research report on Friday, August 4th. Zacks Investment Research lowered Vectren Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 9th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Vectren Corporation has a consensus rating of “Buy” and a consensus target price of $65.50.

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In related news, Director Derrick Burks bought 1,000 shares of the stock in a transaction on Thursday, September 28th. The shares were bought at an average cost of $65.60 per share, for a total transaction of $65,600.00. Following the purchase, the director now 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 is accessible through the SEC website. Company insiders own 0.14% of the company’s stock.

About Vectren Corporation

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 Corporation (NYSE:VVC)

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