IPG Investment Advisors LLC Makes New $871,000 Investment in Versigent $VGNT

IPG Investment Advisors LLC bought a new position in shares of Versigent (NYSE:VGNT) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,725 shares of the company’s stock, valued at approximately $871,000.

A number of other large investors also recently modified their holdings of VGNT. Raiffeisen Bank International AG acquired a new position in shares of Versigent in the 2nd quarter valued at about $1,182,000. Ancora Advisors LLC acquired a new stake in Versigent during the second quarter worth about $4,197,000. Nan Shan Life Insurance Co. Ltd. acquired a new stake in Versigent during the second quarter worth about $5,400,000. Allianz Asset Management GmbH bought a new position in Versigent in the second quarter worth about $20,602,000. Finally, Steamboat Capital Partners LLC bought a new position in Versigent in the second quarter worth about $10,385,000.

Versigent Stock Down 3.6%

Shares of VGNT opened at $45.67 on Thursday. The company has a market cap of $3.23 billion and a price-to-earnings ratio of 23.78. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. The firm has a 50-day moving average of $44.16. Versigent has a 52-week low of $26.34 and a 52-week high of $50.88.

Versigent (NYSE:VGNT) last released its earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.34. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. On average, equities analysts expect that Versigent will post 7.23 EPS for the current year.

Versigent Dividend Announcement

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

Wall Street Analysts Forecast Growth

VGNT has been the subject of several recent research reports. TD Cowen upped their target price on Versigent from $49.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Zacks Research downgraded Versigent from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Royal Bank Of Canada raised Versigent from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Argus boosted their price target on shares of Versigent from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, UBS Group lowered their price target on shares of Versigent from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus 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.