Ancora Advisors LLC Invests $4.20 Million in Versigent $VGNT

Key Points

• Ancora Advisors acquired 99,899 Versigent shares worth approximately $4.20 million, while Wellington Management also purchased a new stake valued at about $940,000.
• Versigent beat quarterly expectations, reporting $1.92 in EPS versus the $1.58 consensus and revenue of $2.44 billion, ahead of the $2.29 billion estimate.
• Analysts maintain a “Moderate Buy” consensus with an average $54 price target, and Versigent declared a quarterly dividend of $0.13 per share, yielding approximately 1.1% annually.

Ancora Advisors LLC acquired a new position in Versigent (NYSE:VGNT - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 99,899 shares of the company's stock, valued at approximately $4,197,000. Ancora Advisors LLC owned approximately 0.14% of Versigent at the end of the most recent reporting period.

Separately, Wellington Management Group LLP purchased a new stake in shares of Versigent during the second quarter worth about $940,000.

Versigent Trading Down 2.5%

Shares of NYSE:VGNT opened at $46.22 on Wednesday. Versigent has a twelve month low of $26.34 and a twelve month high of $50.88. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The firm has a market cap of $3.27 billion and a P/E ratio of 24.07. The stock has a 50 day simple moving average of $43.36.

Versigent (NYSE:VGNT - Get Free Report) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.58 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.29 billion. Equities research analysts predict that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Friday, September 4th.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Argus increased their price objective on shares of Versigent from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Evercore reissued an "outperform" rating and set a $65.00 target price on shares of Versigent in a research report on Monday, August 10th. The Goldman Sachs Group restated a "buy" rating and set a $59.00 price target on shares of Versigent in a research note on Wednesday, August 5th. Oppenheimer set a $50.00 price target on shares of Versigent in a report on Tuesday, July 21st. Finally, UBS Group lowered their price objective on shares of Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $54.00.

Versigent Company 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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