81,931 Shares in VSE Corporation $VSEC Acquired by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners LP acquired 81,931 VSE shares worth approximately $18.7 million, giving it a 0.29% stake. Institutional investors collectively own 91.54% of the company.
• Analysts maintain a favorable outlook, with VSE receiving a consensus “Moderate Buy” rating and an average price target of $252.22; several firms recently raised their targets to between $260 and $290.
• VSE reported strong quarterly results, with revenue rising 65% year over year to $449.14 million and earnings of $1.75 per share versus the $0.93 consensus estimate. The company also declared a quarterly dividend of $0.10 per share.

Freestone Grove Partners LP purchased a new position in VSE Corporation (NASDAQ:VSEC - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 81,931 shares of the construction company's stock, valued at approximately $18,721,000. Freestone Grove Partners LP owned 0.29% 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 the stock. Allworth Financial LP bought a new position in shares of VSE during the second quarter worth $29,000. GAMMA Investing LLC increased its holdings in VSE by 89.0% in the 2nd quarter. GAMMA Investing LLC now owns 276 shares of the construction company's stock valued at $63,000 after acquiring an additional 130 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in VSE by 145.7% in the 4th 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 last quarter. Global Retirement Partners LLC purchased a new stake in VSE in the 2nd quarter worth $51,000. Finally, Persistent Asset Partners Ltd purchased a new stake in VSE in the 2nd quarter worth $90,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

VSEC has been the subject of a number of research analyst reports. Weiss Ratings upgraded VSE from a "hold (c)" rating to a "hold (c+)" rating in a research report on Monday, July 20th. Jefferies Financial Group reiterated a "buy" rating and issued a $275.00 target price on shares of VSE in a research report on Sunday, August 9th. Morgan Stanley set a $230.00 price target on VSE in a report on Wednesday, July 15th. Stifel Nicolaus lifted their price objective on VSE from $245.00 to $260.00 and gave the stock a "buy" rating in a research note on Monday, August 10th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on VSE from $280.00 to $290.00 and gave the stock a "buy" rating in a report on Tuesday, August 11th. One 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 stock. According to MarketBeat, VSE presently has an average rating of "Moderate Buy" and a consensus target price of $252.22.

Insiders Place Their Bets

In other news, CEO John A. Cuomo sold 17,500 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer owned 169,537 shares in the company, valued at approximately $41,111,027.13. This trade represents a 9.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Benjamin E. Thomas sold 6,500 shares of the firm's stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $196.82, for a total transaction of $1,279,330.00. Following the completion of the sale, the chief operating officer directly owned 42,839 shares of the company's stock, valued at approximately $8,431,571.98. The trade was a 13.17% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 1.80% of the company's stock.

VSE Stock Down 2.6%

Shares of NASDAQ:VSEC opened at $221.00 on Friday. The company has a current ratio of 3.77, a quick ratio of 1.30 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. The company has a 50-day moving average price of $216.03 and a 200 day moving average price of $202.16. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 70.83, a PEG ratio of 1.09 and a beta of 1.23.

VSE (NASDAQ:VSEC - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The construction company reported $1.75 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.82. The company had revenue of $449.14 million for the quarter, compared to analysts' expectations of $425.03 million. VSE had a return on equity of 6.71% and a net margin of 6.17%.The firm's revenue for the quarter was up 65.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.97 earnings per share. As a group, equities research analysts predict that VSE Corporation will post 5.78 earnings per share for the current year.

VSE Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Thursday, October 15th. VSE's payout ratio is presently 12.82%.

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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