193,011 Shares in VSE Corporation $VSEC Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon acquired 193,011 VSE shares worth approximately $44.1 million, taking a 0.69% stake. Institutional investors and hedge funds collectively own 91.54% of the company.
• VSE reported strong quarterly results, with revenue up 65% year over year to $449.14 million and EPS of $1.75, exceeding analyst expectations of $0.93.
• Analysts remain broadly positive, with a “Moderate Buy” consensus and an average price target of $252.22, while VSE shares recently traded at $221.00. Company insiders, however, sold shares, including stock sales by the CEO and COO.

Bank of New York Mellon Corp bought a new position in VSE Corporation (NASDAQ:VSEC - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 193,011 shares of the construction company's stock, valued at approximately $44,103,000. Bank of New York Mellon Corp owned 0.69% of VSE at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in VSEC. EverSource Wealth Advisors LLC grew its position in 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 acquiring an additional 153 shares during the period. GAMMA Investing LLC grew its stake in shares of VSE by 89.0% during the second quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock worth $63,000 after purchasing an additional 130 shares during the period. State of Wyoming bought a new position in shares of VSE during the second quarter worth $197,000. AQR Capital Management LLC acquired a new position in VSE in the first quarter valued at about $247,000. Finally, Ellevest Inc. bought a new stake in VSE in the 4th quarter valued at $323,000. 91.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other VSE news, COO Benjamin E. Thomas sold 6,500 shares of the stock in a transaction dated Friday, June 12th. The shares were 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 in the company, valued at approximately $8,431,571.98. This trade represents a 13.17% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John A. Cuomo sold 17,500 shares of the stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $242.49, for a total value of $4,243,575.00. Following the sale, the chief executive officer directly owned 169,537 shares of the company's stock, valued at $41,111,027.13. The trade was a 9.36% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 1.80% of the stock is owned by company insiders.

VSE Stock Down 2.6%

Shares of NASDAQ VSEC opened at $221.00 on Friday. The firm has a market cap of $6.20 billion, a PE ratio of 70.83, a P/E/G ratio of 1.09 and a beta of 1.23. The company's fifty day simple moving average is $216.03 and its 200 day simple moving average is $202.16. The company has a quick ratio of 1.30, a current ratio of 3.77 and a debt-to-equity ratio of 0.31. VSE Corporation has a 12-month low of $154.67 and a 12-month high of $247.85.

VSE (NASDAQ:VSEC - Get Free Report) last issued its earnings results on Wednesday, August 5th. The construction company reported $1.75 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.82. VSE had a return on equity of 6.71% and a net margin of 6.17%.The business had revenue of $449.14 million during the quarter, compared to analyst estimates of $425.03 million. During the same period in the previous year, the company posted $0.97 EPS. The firm's revenue was up 65.0% compared to the same quarter last year. As a group, sell-side analysts forecast that VSE Corporation will post 5.78 earnings per share for the current fiscal year.

VSE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be issued a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date is Thursday, October 15th. VSE's dividend payout ratio is currently 12.82%.

Analyst Ratings Changes

VSEC has been the topic of a number of recent research reports. Stifel Nicolaus lifted their target price on VSE from $245.00 to $260.00 and gave the company a "buy" rating in a research report on Monday, August 10th. Citigroup increased their target price on VSE from $263.00 to $280.00 and gave the stock a "buy" rating in a report on Thursday, August 13th. Truist Financial upgraded shares of VSE to a "strong-buy" rating in a research note on Friday, May 1st. Deutsche Bank Aktiengesellschaft upped their target price on VSE from $280.00 to $290.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. Finally, Zacks Research lowered shares of VSE from a "strong-buy" rating to a "hold" rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $252.22.

VSE 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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