Jennison Associates LLC Has $100.70 Million Holdings in VSE Corporation (NASDAQ:VSEC)

Jennison Associates LLC reduced its position in VSE Corporation (NASDAQ:VSEC - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 839,267 shares of the construction company's stock after selling 89,350 shares during the period. Jennison Associates LLC owned about 4.06% of VSE worth $100,704,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. boosted its position in VSE by 52.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,026,164 shares of the construction company's stock worth $192,689,000 after purchasing an additional 698,642 shares during the period. Neuberger Berman Group LLC purchased a new stake in VSE during the 4th quarter worth $35,834,000. Artisan Partners Limited Partnership purchased a new stake in VSE during the 4th quarter worth $31,692,000. Ameriprise Financial Inc. lifted its holdings in VSE by 63.4% in the 4th quarter. Ameriprise Financial Inc. now owns 716,168 shares of the construction company's stock worth $68,115,000 after buying an additional 277,971 shares in the last quarter. Finally, Capital Research Global Investors lifted its holdings in VSE by 16.8% in the 4th quarter. Capital Research Global Investors now owns 1,794,069 shares of the construction company's stock worth $170,616,000 after buying an additional 258,674 shares in the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

VSE Price Performance

Shares of VSE stock traded down $0.63 on Tuesday, hitting $129.64. The company had a trading volume of 170,514 shares, compared to its average volume of 222,214. The business has a 50-day simple moving average of $131.25 and a 200-day simple moving average of $117.46. 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 market cap of $2.68 billion, a PE ratio of 162.05 and a beta of 1.26. VSE Corporation has a 52 week low of $73.36 and a 52 week high of $140.64.

VSE (NASDAQ:VSEC - Get Free Report) last issued its earnings results 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 firm had revenue of $256.05 million during 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% compared to the same quarter last year. During the same period last year, the firm posted $0.45 earnings per share. Research analysts expect that VSE Corporation will post 2.96 EPS for the current fiscal year.

VSE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 30th. Shareholders of record on Wednesday, July 16th will be paid a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Wednesday, July 16th. VSE's dividend payout ratio (DPR) is currently 50.00%.

Insider Activity

In other VSE news, Director Anita D. Britt sold 2,869 shares of the business'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 value of $371,191.22. Following the completion of the sale, the director directly owned 3,837 shares of the company's stock, valued at $496,431.06. The trade was a 42.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on VSEC shares. Truist Financial boosted their price objective on VSE from $130.00 to $140.00 and gave the company a "buy" rating in a report on Thursday, May 8th. 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 note on Thursday, May 8th. Finally, 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 note 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, VSE has a consensus rating of "Moderate Buy" and an average target price 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.