Allianz Asset Management GmbH Takes Position in Versigent $VGNT

Key Points

• Allianz Asset Management bought 490,404 Versigent shares worth approximately $20.6 million, giving it a 0.69% stake. Several other institutional investors also initiated positions during the second quarter.
• Versigent exceeded quarterly expectations, reporting $1.92 in EPS versus the $1.58 consensus and revenue of $2.44 billion versus estimates of $2.29 billion.
• Analysts maintain a positive outlook, with a “Moderate Buy” consensus and an average price target of $54; the company also declared a $0.13 quarterly dividend, representing a 1.0% yield.

Allianz Asset Management GmbH purchased a new position in Versigent (NYSE:VGNT - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 490,404 shares of the company's stock, valued at approximately $20,602,000. Allianz Asset Management GmbH owned about 0.69% of Versigent at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in VGNT. Kintegral Advisory LLC purchased a new position in shares of Versigent in the 2nd quarter worth $224,000. Corient Private Wealth LP purchased a new stake in Versigent during the second quarter valued at about $426,000. Figure 8 Investment Strategies LLC acquired a new stake in Versigent during the second quarter worth about $685,000. Wellington Management Group LLP acquired a new stake in Versigent during the second quarter worth about $940,000. Finally, Raiffeisen Bank International AG purchased a new position in shares of Versigent in the 2nd quarter worth about $1,182,000.

Versigent Trading Down 0.0%

VGNT opened at $50.21 on Tuesday. Versigent has a twelve month low of $26.34 and a twelve month high of $50.88. The firm has a market cap of $3.56 billion and a price-to-earnings ratio of 26.15. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40. The company's fifty day moving average price is $43.97.

Versigent (NYSE:VGNT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. On average, analysts forecast that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.0%.

Analysts Set New Price Targets

Several research firms have recently weighed in on VGNT. Oppenheimer set a $50.00 price objective on Versigent in a research note on Tuesday, July 21st. Wells Fargo & Company raised their price target on shares of Versigent from $48.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, August 5th. TD Cowen raised their price target on shares of Versigent from $49.00 to $58.00 and gave the company a "buy" rating in a report on Wednesday, August 5th. The Goldman Sachs Group reaffirmed a "buy" rating and set a $59.00 price target on shares of Versigent in a research report on Wednesday, August 5th. Finally, Royal Bank Of Canada upgraded shares of Versigent from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $41.00 to $52.00 in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Versigent currently has a consensus rating of "Moderate Buy" and an average price target of $54.00.

Versigent Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.

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