IPG Investment Advisors LLC Takes $871,000 Position in Versigent $VGNT

IPG Investment Advisors LLC purchased a new stake in Versigent (NYSE:VGNT) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 20,725 shares of the company’s stock, valued at approximately $871,000.

A number of other hedge funds and other institutional investors have also modified their holdings of VGNT. Integrated Wealth Concepts LLC acquired a new position in shares of Versigent in the second quarter worth about $57,000. Kintegral Advisory LLC acquired a new stake in shares of Versigent during the second quarter valued at approximately $224,000. Engineers Gate Manager LP acquired a new stake in shares of Versigent during the second quarter valued at approximately $418,000. Corient Private Wealth LP purchased a new stake in shares of Versigent in the 2nd quarter valued at approximately $426,000. Finally, Figure 8 Investment Strategies LLC purchased a new stake in shares of Versigent in the 2nd quarter valued at approximately $685,000.

Wall Street Analyst Weigh In

Several analysts have issued reports on VGNT shares. The Goldman Sachs Group reissued a “buy” rating and set a $59.00 target price on shares of Versigent in a research note on Wednesday, August 5th. UBS Group lowered their price target on Versigent from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Zacks Research lowered Versigent from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Argus increased their price objective on Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, August 13th. Finally, Royal Bank Of Canada upgraded 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 research report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Versigent presently has a consensus rating of “Moderate Buy” and an average target price of $54.00.

Versigent Stock Down 3.6%

VGNT stock opened at $45.67 on Thursday. The business has a 50 day moving average of $44.16. The stock has a market cap of $3.23 billion and a P/E ratio of 23.78. 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) last posted 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 analysts’ expectations of $2.29 billion. On average, research analysts anticipate that Versigent will post 7.23 EPS for the current year.

Versigent Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Stockholders of record on Friday, September 4th will be issued 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 is Friday, September 4th.

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.