Fred Alger Management LLC Cuts Stock Position in VSE Corporation $VSEC

Fred Alger Management LLC trimmed its position in shares of VSE Corporation (NASDAQ:VSEC) by 6.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 368,313 shares of the construction company’s stock after selling 26,186 shares during the quarter. Fred Alger Management LLC’s holdings in VSE were worth $63,633,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of VSEC. Royal Bank of Canada lifted its position in shares of VSE by 34.2% during the first quarter. Royal Bank of Canada now owns 13,139 shares of the construction company’s stock worth $1,576,000 after purchasing an additional 3,350 shares during the last quarter. AQR Capital Management LLC bought a new stake in shares of VSE during the first quarter worth $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of VSE by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,485 shares of the construction company’s stock worth $1,258,000 after purchasing an additional 470 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of VSE by 10.4% during the first quarter. Goldman Sachs Group Inc. now owns 346,390 shares of the construction company’s stock worth $41,563,000 after purchasing an additional 32,489 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of VSE by 56.6% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 50,422 shares of the construction company’s stock worth $6,050,000 after purchasing an additional 18,220 shares during the last quarter. 91.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $268.00 target price on shares of VSE in a research report on Thursday, May 7th. William Blair reiterated an “outperform” rating on shares of VSE in a research report on Thursday, March 12th. Royal Bank Of Canada upped their price objective on shares of VSE from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Zacks Research lowered shares of VSE from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 8th. Finally, Truist Financial raised shares of VSE to a “strong-buy” rating in a research note on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $239.13.

VSE Stock Up 0.3%

NASDAQ:VSEC opened at $199.12 on Wednesday. VSE Corporation has a 1-year low of $123.69 and a 1-year high of $232.61. The company has a 50-day moving average of $187.94 and a 200 day moving average of $192.21. The firm has a market cap of $5.59 billion, a PE ratio of 84.02, a price-to-earnings-growth ratio of 2.22 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 8.78 and a quick ratio of 6.24.

VSE (NASDAQ:VSEC) last released its quarterly earnings data on Tuesday, May 5th. The construction company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.93 by $0.24. VSE had a net margin of 4.95% and a return on equity of 6.56%. The company had revenue of $324.58 million during the quarter, compared to analyst estimates of $309.19 million. During the same period in the prior year, the firm earned $0.78 earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, research analysts anticipate that VSE Corporation will post 4.3 EPS for the current fiscal year.

VSE Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be issued a $0.10 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.2%. VSE’s payout ratio is currently 16.88%.

Insider Buying and Selling

In other VSE news, COO Benjamin E. Thomas sold 6,500 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $196.82, for a total value of $1,279,330.00. Following the completion of the transaction, the chief operating officer directly owned 42,839 shares in the company, valued at approximately $8,431,571.98. The trade was a 13.17% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.80% of the company’s stock.

About VSE

VSE Corporation (NASDAQ: VSEC) is a provider of aftermarket distribution and supply chain management services serving both government and commercial markets. The company’s solutions span a wide range of industries, with particular emphasis on defense, aerospace and transportation. VSE’s core mission is to ensure mission readiness by delivering critical parts, maintenance and technical support for equipment throughout its lifecycle.

Through its Distribution Services segment, VSE sources, markets and distributes replacement parts and components for commercial truck, bus, rail and specialty vehicle applications.