Allspring Global Investments Holdings LLC Decreases Stake in VSE Corporation (NASDAQ:VSEC)

Allspring Global Investments Holdings LLC cut its stake in shares of VSE Corporation (NASDAQ:VSEC - Free Report) by 27.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 187,609 shares of the construction company's stock after selling 70,894 shares during the period. Allspring Global Investments Holdings LLC owned about 0.91% of VSE worth $22,856,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Sterling Capital Management LLC increased its holdings in shares of VSE by 857.1% during the fourth quarter. Sterling Capital Management LLC now owns 469 shares of the construction company's stock worth $45,000 after buying an additional 420 shares in the last quarter. Quantbot Technologies LP acquired a new stake in VSE in the fourth quarter valued at $47,000. Tower Research Capital LLC TRC grew its holdings in VSE by 21.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,449 shares of the construction company's stock worth $138,000 after acquiring an additional 258 shares during the period. Summit Investment Advisors Inc. grew its holdings in VSE by 14.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,842 shares of the construction company's stock worth $175,000 after acquiring an additional 233 shares during the period. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in VSE during the 4th quarter worth about $226,000. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Anita D. Britt sold 2,869 shares of the firm's stock in a transaction dated Friday, May 9th. The shares were sold at an average price of $129.38, for a total value of $371,191.22. Following the transaction, the director owned 3,837 shares of the company's stock, valued at approximately $496,431.06. This trade represents a 42.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 14.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on VSEC shares. Truist Financial increased their price objective on shares of VSE from $130.00 to $140.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Royal Bank Of Canada increased their price objective on shares of VSE from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Thursday, May 8th. Finally, B. Riley increased their price objective on shares of VSE from $145.00 to $150.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $130.00.

VSE Stock Down 1.9%

Shares of VSEC stock traded down $2.47 on Friday, reaching $127.89. 143,668 shares of the company were exchanged, compared to its average volume of 224,148. VSE Corporation has a one year low of $73.36 and a one year high of $140.64. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 159.86 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.90 and a quick ratio of 2.12. The company has a 50-day moving average of $129.85 and a 200-day moving average of $114.76.

VSE (NASDAQ:VSEC - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.23. VSE had a net margin of 1.41% and a return on equity of 6.62%. The business had revenue of $256.05 million for the quarter, compared to analysts' expectations of $248.20 million. During the same quarter last year, the firm earned $0.45 EPS. The firm's revenue for the quarter was up 57.6% compared to the same quarter last year. Analysts anticipate that VSE Corporation will post 2.96 earnings per share for the current year.

VSE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Investors of record on Wednesday, July 16th will be given a $0.10 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $0.40 annualized dividend and a yield of 0.31%. VSE's payout ratio is 50.00%.

VSE Company Profile

VSE Corporation operates as a diversified aftermarket products and services company in the United States. The company operates through two segments, Aviation and Fleet. The Aviation segment provides aftermarket parts supply and distribution; maintenance, repair, and overhaul services for components and engine accessories supporting commercial, business, and general aviation operators.