Nan Shan Life Insurance Co. Ltd. Makes New Investment in Versigent $VGNT

Key Points

• Nan Shan Life Insurance acquired 128,541 Versigent shares worth approximately $5.4 million, while several other institutional investors also opened new positions during the second quarter.
• Versigent reported quarterly EPS of $1.92 and revenue of $2.44 billion, exceeding analyst estimates of $1.58 EPS and $2.29 billion in revenue.
• The company declared a quarterly dividend of $0.13 per share, equivalent to $0.52 annually and a 1.1% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $54.

Nan Shan Life Insurance Co. Ltd. bought a new position in Versigent (NYSE:VGNT - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 128,541 shares of the company's stock, valued at approximately $5,400,000. Nan Shan Life Insurance Co. Ltd. owned 0.18% of Versigent at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ancora Advisors LLC purchased a new stake in shares of Versigent during the 2nd quarter valued at about $4,197,000. Wellington Management Group LLP purchased a new position in Versigent in the 2nd quarter worth approximately $940,000. Finally, Kintegral Advisory LLC acquired a new stake in Versigent in the second quarter valued at approximately $224,000.

Versigent Price Performance

Shares of VGNT stock opened at $46.22 on Wednesday. The business's fifty day moving average is $43.36. The firm has a market cap of $3.27 billion and a price-to-earnings ratio of 24.07. Versigent has a 1-year low of $26.34 and a 1-year high of $50.88. The company has a debt-to-equity ratio of 7.29, a quick ratio of 1.09 and a current ratio of 1.40.

Versigent (NYSE:VGNT - Get Free Report) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.58 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. On average, sell-side analysts expect that Versigent will post 7.23 EPS for the current year.

Versigent Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on VGNT. Fox Advisors lowered shares of Versigent from an "overweight" rating to an "equal weight" rating in a research note on Wednesday, August 5th. Morgan Stanley initiated coverage on shares of Versigent in a research note on Friday, May 8th. They set an "overweight" rating and a $51.00 price target on the stock. UBS Group decreased their price objective on shares of Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Wells Fargo & Company raised their target price on Versigent from $48.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, August 5th. Finally, Evercore reissued an "outperform" rating and issued a $65.00 price target on shares of Versigent in a report on Monday, August 10th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $54.00.

About Versigent

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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