Wellington Management Group LLP Invests $940,000 in Versigent $VGNT

Key Points

• Wellington Management Group acquired 22,386 Versigent shares worth approximately $940,000, establishing a new institutional position.
• Versigent reported quarterly EPS of $1.92, beating estimates by $0.34, while revenue of $2.44 billion exceeded expectations of $2.29 billion. The company also declared a quarterly dividend of $0.13 per share, representing a 1.1% annualized yield.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $54, although Zacks Research downgraded the stock to “Hold.” Director Kevin Clark separately sold 74,130 shares for approximately $3.39 million.

Wellington Management Group LLP acquired a new stake in Versigent (NYSE:VGNT - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,386 shares of the company's stock, valued at approximately $940,000.

Versigent Stock Up 1.2%

VGNT opened at $46.98 on Friday. 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 has a 52 week low of $26.34 and a 52 week high of $50.88. The stock's 50 day moving average price is $44.42. The firm has a market capitalization of $3.33 billion and a price-to-earnings ratio of 24.47.

Versigent (NYSE:VGNT - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.29 billion. Equities analysts expect that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, September 4th will be paid a dividend of $0.13 per share. The ex-dividend date is Friday, September 4th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%.

Insider Transactions at Versigent

In other Versigent news, Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total value of $3,385,517.10. Following the transaction, the director directly owned 124,849 shares in the company, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VGNT. Zacks Research cut Versigent from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised shares of Versigent from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $41.00 to $52.00 in a report on Wednesday, August 5th. Argus boosted their price objective on shares of Versigent from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, August 13th. Evercore restated an "outperform" rating and issued a $65.00 target price on shares of Versigent in a report on Monday, August 10th. Finally, The Goldman Sachs Group reaffirmed a "buy" rating and issued a $59.00 target price on shares of Versigent in a research report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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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