Kevin Clark Sells 48,592 Shares of Versigent (NYSE:VGNT) Stock

Key Points

• Director Kevin Clark sold 48,592 Versigent shares at an average price of $48.02, generating approximately $2.33 million. His remaining direct ownership fell 19.63% to 198,979 shares.
• Versigent reported quarterly earnings of $1.92 per share, beating estimates by $0.34, while revenue of $2.44 billion exceeded expectations of $2.29 billion.
• 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 $54.00.

Versigent (NYSE:VGNT - Get Free Report) Director Kevin Clark sold 48,592 shares of the stock in a transaction that occurred on Tuesday, September 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,333,387.84. Following the completion of the sale, the director directly owned 198,979 shares in the company, valued at approximately $9,554,971.58. This represents a 19.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Versigent Price Performance

Shares of Versigent stock traded up $0.71 during trading on Thursday, hitting $46.45. 470,596 shares of the stock were exchanged, compared to its average volume of 1,777,686. The company has a market cap of $3.29 billion and a PE ratio of 24.19. The business's 50-day simple moving average is $44.16. Versigent has a 12-month low of $26.34 and a 12-month high of $50.88. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29.

Versigent (NYSE:VGNT - Get Free Report) last posted its earnings results on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.58 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analysts' expectations of $2.29 billion. As a group, research analysts forecast that Versigent will post 7.23 earnings per share for the current year.

Versigent Dividend Announcement

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

Institutional Trading of Versigent

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC purchased a new stake in shares of Versigent in the 2nd quarter valued at about $57,000. Sequoia Financial Advisors LLC purchased a new position in Versigent during the 2nd quarter worth approximately $220,000. Kintegral Advisory LLC acquired a new position in Versigent during the second quarter worth approximately $224,000. Engineers Gate Manager LP acquired a new position in Versigent during the second quarter worth approximately $418,000. Finally, Corient Private Wealth LP purchased a new stake in Versigent in the second quarter valued at approximately $426,000.

Wall Street Analyst Weigh In

VGNT has been the topic of several research analyst reports. Royal Bank Of Canada raised Versigent from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Oppenheimer set a $50.00 price target on shares of Versigent in a research note on Tuesday, July 21st. Fox Advisors cut shares of Versigent from an "overweight" rating to an "equal weight" rating in a report on Wednesday, August 5th. Wells Fargo & Company boosted their price objective on shares of Versigent from $48.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 5th. Finally, UBS Group lowered their target price on shares of Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Eleven analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $54.00.

Versigent Company Profile

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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