Fred Alger Management LLC Invests $24.53 Million in VSE Co. (NASDAQ:VSEC)

Fred Alger Management LLC bought a new position in VSE Co. (NASDAQ:VSEC - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 257,936 shares of the construction company's stock, valued at approximately $24,530,000. Fred Alger Management LLC owned 1.26% of VSE at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Sterling Capital Management LLC lifted its position in VSE by 857.1% during the 4th quarter. Sterling Capital Management LLC now owns 469 shares of the construction company's stock valued at $45,000 after acquiring an additional 420 shares during the period. Quantbot Technologies LP purchased a new position in VSE during the 4th quarter valued at about $47,000. Tower Research Capital LLC TRC lifted its position in VSE by 21.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,449 shares of the construction company's stock valued at $138,000 after acquiring an additional 258 shares during the period. Summit Investment Advisors Inc. lifted its position in VSE by 14.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 1,842 shares of the construction company's stock valued at $175,000 after acquiring an additional 233 shares during the period. Finally, KFA Private Wealth Group LLC purchased a new position in VSE during the 4th quarter valued at about $209,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. B. Riley lifted their price target on shares of VSE from $145.00 to $150.00 and gave the company a "buy" rating in a research report on Thursday. Truist Financial lifted their price target on shares of VSE from $130.00 to $140.00 and gave the company a "buy" rating in a research report on Thursday. StockNews.com raised shares of VSE to a "sell" rating in a research report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their price target on shares of VSE from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $125.17.

VSE Stock Down 1.7%

VSE stock traded down $2.28 during trading hours on Friday, hitting $129.14. The stock had a trading volume of 361,547 shares, compared to its average volume of 218,240. The company has a quick ratio of 1.15, a current ratio of 3.69 and a debt-to-equity ratio of 0.53. The stock has a market capitalization of $2.67 billion, a P/E ratio of 161.43 and a beta of 1.34. VSE Co. has a 12-month low of $73.36 and a 12-month high of $134.00. The stock's 50-day moving average price is $116.04 and its 200-day moving average price is $109.47.

VSE (NASDAQ:VSEC - Get Free Report) last issued its earnings results on Tuesday, May 6th. The construction company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.23. The business had revenue of $256.05 million during the quarter, compared to analysts' expectations of $248.20 million. VSE had a net margin of 1.36% and a return on equity of 7.26%. The business's revenue for the quarter was up 57.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.45 earnings per share. Equities research analysts anticipate that VSE Co. will post 2.96 EPS for the current fiscal year.

VSE Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Wednesday, July 16th will be paid a $0.10 dividend. The ex-dividend date is Wednesday, July 16th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.31%. VSE's dividend payout ratio is presently 50.00%.

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.