Raiffeisen Bank International AG Makes New Investment in Versigent $VGNT

Key Points

• Raiffeisen Bank International acquired 30,000 Versigent shares worth approximately $1.18 million in the second quarter, joining several other institutions that initiated positions.
• Analyst sentiment remains positive, with 11 Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $54.00; targets range as high as $59.00.
• Versigent exceeded quarterly expectations, reporting $1.92 EPS versus $1.58 expected and $2.44 billion in revenue versus $2.29 billion forecast. The company also declared a $0.13 quarterly dividend, equal to a 1.0% annualized yield.

Raiffeisen Bank International AG acquired a new stake in shares of Versigent (NYSE:VGNT - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 30,000 shares of the company's stock, valued at approximately $1,182,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ancora Advisors LLC purchased a new stake in Versigent during the 2nd quarter worth approximately $4,197,000. Nan Shan Life Insurance Co. Ltd. acquired a new position in Versigent during the 2nd quarter valued at approximately $5,400,000. Kintegral Advisory LLC acquired a new position in Versigent during the 2nd quarter valued at approximately $224,000. Finally, Wellington Management Group LLP purchased a new position in shares of Versigent in the second quarter worth $940,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Royal Bank Of Canada raised shares of Versigent from a "sector perform" rating to an "outperform" rating and boosted their price objective for the company from $41.00 to $52.00 in a report on Wednesday, August 5th. Fox Advisors lowered Versigent from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. Wells Fargo & Company lifted their target price on Versigent from $48.00 to $56.00 and gave the stock an "overweight" rating in a report on Wednesday, August 5th. The Goldman Sachs Group reiterated a "buy" rating and issued a $59.00 target price on shares of Versigent in a research report on Wednesday, August 5th. Finally, UBS Group cut their price target on shares of Versigent from $58.00 to $55.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $54.00.

Versigent Stock Performance

Shares of VGNT opened at $50.21 on Friday. The stock's 50-day moving average is $43.75. The firm has a market cap of $3.56 billion and a P/E ratio of 26.15. Versigent has a fifty-two week low of $26.34 and a fifty-two week high of $50.88. The company has a debt-to-equity ratio of 7.29, a current ratio of 1.40 and a quick ratio of 1.09.

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

Versigent Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a $0.13 dividend. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.0%.

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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