Versigent (NYSE:VGNT) Director Sells $2,333,387.84 in Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 48,592 shares of the firm’s stock in a transaction dated 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 owned 198,979 shares of the company’s stock, valued at $9,554,971.58. The trade was a 19.63% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Versigent Trading Up 1.2%

Shares of NYSE VGNT opened at $46.98 on Friday. Versigent has a 1-year low of $26.34 and a 1-year high of $50.88. The business has a 50-day moving average of $44.42. The company has a market capitalization of $3.33 billion and a P/E ratio of 24.47. 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) last released its quarterly 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 company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. As a group, equities research analysts forecast that Versigent will post 7.23 earnings per share for the current 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 issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.1%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. California State Teachers Retirement System acquired a new stake in shares of Versigent during the second quarter worth $143,056,000. Allianz Asset Management GmbH bought a new stake in Versigent in the second quarter valued at about $20,602,000. Steamboat Capital Partners LLC acquired a new position in Versigent in the second quarter valued at about $10,385,000. WINTON GROUP Ltd acquired a new position in Versigent in the second quarter valued at about $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. bought a new position in Versigent during the second quarter worth about $5,400,000.

Analyst Upgrades and Downgrades

VGNT has been the subject of several research reports. Zacks Research cut Versigent from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and set a $65.00 price target on shares of Versigent in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $54.00 price target on shares of Versigent in a report on Wednesday, August 5th. The Goldman Sachs Group reissued a “buy” rating and set a $59.00 price objective on shares of Versigent in a report on Wednesday, August 5th. Finally, Oppenheimer set a $50.00 target price on shares of Versigent in a research note on Tuesday, July 21st. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.