Chase Investment Counsel Corp acquired a new stake in VSE Corporation (NASDAQ:VSEC – Free Report) during the second quarter, HoldingsChannel.com reports. The institutional investor acquired 19,815 shares of the construction company’s stock, valued at approximately $4,527,000.
Several other hedge funds have also recently added to or reduced their stakes in VSEC. Global Retirement Partners LLC acquired a new position in VSE during the second quarter worth about $51,000. EverSource Wealth Advisors LLC lifted its holdings in shares of VSE by 145.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 258 shares of the construction company’s stock valued at $45,000 after purchasing an additional 153 shares in the last quarter. GAMMA Investing LLC grew its position in shares of VSE by 89.0% in the second quarter. GAMMA Investing LLC now owns 276 shares of the construction company’s stock valued at $63,000 after purchasing an additional 130 shares during the last quarter. State of Wyoming acquired a new stake in shares of VSE in the second quarter valued at approximately $197,000. Finally, Ellevest Inc. purchased a new position in shares of VSE during the 4th quarter worth approximately $323,000. 91.54% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at VSE
In other news, COO Benjamin E. Thomas sold 6,500 shares of VSE stock in a transaction on Friday, June 12th. The stock was sold at an average price of $196.82, for a total value of $1,279,330.00. Following the completion of the sale, the chief operating officer owned 42,839 shares of the company’s stock, valued at $8,431,571.98. The trade was a 13.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.80% of the stock is currently owned by corporate insiders.
VSE Price Performance
VSE (NASDAQ:VSEC – Get Free Report) last released its earnings results on Wednesday, August 5th. The construction company reported $1.75 EPS for the quarter, topping the consensus estimate of $0.93 by $0.82. The firm had revenue of $449.14 million during the quarter, compared to analysts’ expectations of $425.03 million. VSE had a net margin of 6.17% and a return on equity of 6.71%. VSE’s revenue for the quarter was up 65.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.97 EPS. As a group, sell-side analysts anticipate that VSE Corporation will post 5 earnings per share for the current year.
VSE Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.10 per share. The ex-dividend date is Thursday, October 15th. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. VSE’s dividend payout ratio (DPR) is 12.82%.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on VSEC shares. Weiss Ratings upgraded VSE from a “hold (c)” rating to a “hold (c+)” rating in a research report on Monday, July 20th. Royal Bank Of Canada increased their target price on VSE from $240.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, August 7th. Stifel Nicolaus raised their price target on VSE from $245.00 to $260.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Deutsche Bank Aktiengesellschaft boosted their price target on VSE from $280.00 to $290.00 and gave the stock a “buy” rating in a report on Tuesday, August 11th. Finally, Truist Financial upgraded VSE to a “strong-buy” rating in a research report on Friday, May 1st. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $252.22.
Check Out Our Latest Report on VSEC
VSE Company Profile
VSE Corporation (NASDAQ: VSEC) is a provider of aftermarket distribution and supply chain management services serving both government and commercial markets. The company’s solutions span a wide range of industries, with particular emphasis on defense, aerospace and transportation. VSE’s core mission is to ensure mission readiness by delivering critical parts, maintenance and technical support for equipment throughout its lifecycle.
Through its Distribution Services segment, VSE sources, markets and distributes replacement parts and components for commercial truck, bus, rail and specialty vehicle applications.
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