Jennison Associates LLC Acquires Shares of 440,188 VSE Co. (NASDAQ:VSEC)

Jennison Associates LLC bought a new position in VSE Co. (NASDAQ:VSECFree Report) in the third quarter, HoldingsChannel reports. The firm bought 440,188 shares of the construction company’s stock, valued at approximately $22,203,000.

Other large investors have also recently modified their holdings of the company. TD Asset Management Inc bought a new stake in VSE in the third quarter worth $1,609,000. Roubaix Capital LLC raised its position in VSE by 17.2% in the 3rd quarter. Roubaix Capital LLC now owns 91,443 shares of the construction company’s stock worth $4,612,000 after purchasing an additional 13,436 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of VSE during the third quarter valued at approximately $135,000. Bank of New York Mellon Corp grew its stake in shares of VSE by 9.4% during the third quarter. Bank of New York Mellon Corp now owns 89,374 shares of the construction company’s stock valued at $4,508,000 after buying an additional 7,659 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of VSE in the third quarter worth approximately $294,000. Institutional investors own 69.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on VSEC shares. Benchmark reaffirmed a “buy” rating and issued a $85.00 price objective on shares of VSE in a research report on Monday, December 18th. StockNews.com started coverage on shares of VSE in a research note on Thursday, October 5th. They issued a “sell” rating for the company. Truist Financial lifted their price target on VSE from $77.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Royal Bank of Canada upped their price objective on VSE from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to MarketBeat.com, VSE currently has a consensus rating of “Moderate Buy” and an average price target of $74.20.

Read Our Latest Research Report on VSEC

VSE Stock Performance

Shares of VSEC opened at $57.61 on Thursday. The company has a current ratio of 3.06, a quick ratio of 1.09 and a debt-to-equity ratio of 0.72. The firm has a market cap of $907.36 million, a PE ratio of 24.00 and a beta of 1.63. VSE Co. has a 12 month low of $39.88 and a 12 month high of $66.44. The stock has a fifty day moving average price of $61.41 and a 200-day moving average price of $56.92.

VSE (NASDAQ:VSECGet Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.16. VSE had a return on equity of 8.83% and a net margin of 3.50%. The business had revenue of $231.35 million during the quarter, compared to the consensus estimate of $218.97 million. Equities research analysts predict that VSE Co. will post 3.2 earnings per share for the current fiscal year.

VSE Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 8th. Shareholders of record on Thursday, January 25th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $0.40 dividend on an annualized basis and a yield of 0.69%. VSE’s payout ratio is 16.67%.

About VSE

(Free Report)

VSE Corporation operates as a diversified aftermarket products and services company in the United States. The company operates through three segments: Aviation, Fleet, and Federal and Defense. The Aviation segment provides international parts supply and distribution, supply chain solutions, and component and engine accessory maintenance, repair, and overhaul (MRO) services.

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Institutional Ownership by Quarter for VSE (NASDAQ:VSEC)

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