Jennison Associates LLC Sells 89,350 Shares of VSE Corporation (NASDAQ:VSEC)

Jennison Associates LLC reduced its stake in VSE Corporation (NASDAQ:VSEC - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,267 shares of the construction company's stock after selling 89,350 shares during the period. Jennison Associates LLC owned 4.06% of VSE worth $100,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Amalgamated Bank raised its stake in VSE by 36.5% in the first quarter. Amalgamated Bank now owns 610 shares of the construction company's stock worth $73,000 after buying an additional 163 shares in the last quarter. Summit Investment Advisors Inc. raised its position in shares of VSE by 14.5% in 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 in the last quarter. Corebridge Financial Inc. raised its position in shares of VSE by 3.0% in the 4th quarter. Corebridge Financial Inc. now owns 8,753 shares of the construction company's stock worth $832,000 after acquiring an additional 258 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in VSE by 21.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,449 shares of the construction company's stock valued at $138,000 after purchasing an additional 258 shares in the last quarter. Finally, Bragg Financial Advisors Inc grew its stake in VSE by 0.5% in the fourth quarter. Bragg Financial Advisors Inc now owns 60,648 shares of the construction company's stock valued at $5,768,000 after purchasing an additional 299 shares during the last quarter. Institutional investors own 91.54% of the company's stock.

VSE Trading Down 0.8%

VSEC opened at $131.40 on Friday. The business has a fifty day moving average price of $131.33 and a 200 day moving average price of $116.80. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.90 and a quick ratio of 2.12. VSE Corporation has a 12 month low of $73.36 and a 12 month high of $140.64. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 164.25 and a beta of 1.26.

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

VSE Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 16th will be issued a dividend of $0.10 per share. The ex-dividend date is Wednesday, July 16th. This represents a $0.40 annualized dividend and a yield of 0.30%. VSE's dividend payout ratio (DPR) is currently 50.00%.

Insider Transactions at VSE

In related news, Director Anita D. Britt sold 2,869 shares of the company's stock in a transaction that occurred on Friday, May 9th. The shares were sold at an average price of $129.38, for a total transaction 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 represents a 42.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 14.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. B. Riley increased their price target on VSE from $145.00 to $150.00 and gave the company a "buy" rating in a research note 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 company an "outperform" rating in a research report on Thursday, May 8th. Finally, Truist Financial boosted their target price 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. One analyst has rated the stock with a sell rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $130.00.

About VSE

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.

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