VSE Corporation (NASDAQ:VSEC) Shares Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in VSE Corporation by 100.5%, acquiring an additional 378,661 shares, bringing its total ownership to approximately 3.65% of the company.
• Research analysts have upgraded VSE's price targets, with B. Riley raising it from $145.00 to $150.00 and the Royal Bank of Canada increasing it from $150.00 to $180.00, reflecting a positive outlook on the stock.
• VSE Corporation announced a quarterly dividend of $0.10 per share, indicating a yield of 0.2%, and will be paid to shareholders of record on October 15th.

Neuberger Berman Group LLC boosted its position in shares of VSE Corporation (NASDAQ:VSEC - Free Report) by 100.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 755,461 shares of the construction company's stock after buying an additional 378,661 shares during the period. Neuberger Berman Group LLC owned approximately 3.65% of VSE worth $90,648,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in VSEC. LPL Financial LLC increased its stake in shares of VSE by 13.8% in the 4th quarter. LPL Financial LLC now owns 3,223 shares of the construction company's stock valued at $307,000 after acquiring an additional 391 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of VSE by 904.9% during the fourth quarter. JPMorgan Chase & Co. now owns 70,557 shares of the construction company's stock valued at $6,710,000 after purchasing an additional 63,536 shares during the period. Geode Capital Management LLC raised its holdings in VSE by 9.4% in the fourth quarter. Geode Capital Management LLC now owns 418,638 shares of the construction company's stock worth $39,821,000 after purchasing an additional 35,919 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of VSE by 47.4% in the fourth quarter. Wells Fargo & Company MN now owns 12,982 shares of the construction company's stock worth $1,235,000 after acquiring an additional 4,176 shares during the last quarter. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of VSE during the fourth quarter valued at $1,340,000. Institutional investors own 91.54% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on VSEC shares. B. Riley boosted 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. Truist Financial lifted their price objective on shares of VSE from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday, May 8th. Finally, Royal Bank Of Canada upped their price objective on VSE from $150.00 to $180.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $145.00.

VSE Price Performance

VSEC traded down $1.99 during trading on Friday, hitting $161.83. The company's stock had a trading volume of 385,399 shares, compared to its average volume of 264,533. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 144.49 and a beta of 1.33. The business's fifty day simple moving average is $138.70 and its 200 day simple moving average is $123.92. VSE Corporation has a twelve month low of $80.60 and a twelve month high of $166.85. The company has a current ratio of 3.73, a quick ratio of 1.44 and a debt-to-equity ratio of 0.38.

VSE (NASDAQ:VSEC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The construction company reported $0.97 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.28. VSE had a return on equity of 7.25% and a net margin of 1.94%. The firm had revenue of $272.14 million for the quarter, compared to the consensus estimate of $267.39 million. During the same quarter last year, the business posted $0.47 earnings per share. The firm's revenue was up 41.1% compared to the same quarter last year. On average, equities research analysts forecast that VSE Corporation will post 2.96 EPS for the current fiscal year.

VSE Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 15th. VSE's dividend payout ratio is currently 35.71%.

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.