Versigent (NYSE:VGNT) Director Kevin Clark Sells 74,130 Shares of Stock

Key Points

• Director Kevin Clark sold 74,130 Versigent shares at an average price of $45.67, generating approximately $3.39 million; his remaining stake fell 37.26% to 124,849 shares.
• Versigent reported quarterly adjusted earnings of $1.92 per share and revenue of $2.44 billion, beating analyst estimates of $1.58 per share and $2.29 billion, respectively.
• The company declared a quarterly dividend of $0.13 per share, or $0.52 annualized, representing a 1.1% yield; analysts maintain a “Moderate Buy” consensus with an average price target of $54.

Versigent (NYSE:VGNT - Get Free Report) 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 transaction of $3,385,517.10. Following the completion of the sale, the director owned 124,849 shares in the company, valued at approximately $5,701,853.83. This represents a 37.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Versigent Stock Performance

Shares of VGNT traded up $0.71 during midday trading on Thursday, hitting $46.45. 470,596 shares of the company traded hands, compared to its average volume of 1,777,686. The firm has a 50 day simple moving average of $44.16. Versigent has a 52 week low of $26.34 and a 52 week high of $50.88. The stock has a market cap of $3.29 billion and a PE ratio of 24.19. 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 (NYSE:VGNT - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, beating analysts' consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.29 billion. Sell-side analysts predict that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be paid 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 1.1%.

Institutional Investors Weigh In On Versigent

Institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP bought a new stake in Versigent in the second quarter worth about $940,000. Ancora Advisors LLC purchased a new position in shares of Versigent during the second quarter valued at approximately $4,197,000. Kintegral Advisory LLC bought a new position in shares of Versigent during the second quarter valued at approximately $224,000. Nan Shan Life Insurance Co. Ltd. bought a new position in shares of Versigent during the second quarter valued at approximately $5,400,000. Finally, Raiffeisen Bank International AG purchased a new stake in shares of Versigent in the second quarter worth approximately $1,182,000.

Analyst Ratings Changes

A number of research firms have recently commented on VGNT. Argus increased their target price on Versigent from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, August 13th. Weiss Ratings initiated coverage on shares of Versigent in a research report on Wednesday, August 5th. They issued a "hold (c)" rating on the stock. Fox Advisors lowered shares of Versigent from an "overweight" rating to an "equal weight" rating in a research report on Wednesday, August 5th. TD Cowen lifted their price objective on shares of Versigent from $49.00 to $58.00 and gave the stock a "buy" rating in a research note on Wednesday, August 5th. Finally, UBS Group reduced their target price 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 analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has an average 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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