Wellington Management Group LLP Makes New Investment in Versigent $VGNT

Wellington Management Group LLP bought a new stake in Versigent (NYSE:VGNT) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 22,386 shares of the company’s stock, valued at approximately $940,000.

Versigent Trading Up 1.2%

Shares of VGNT stock opened at $46.98 on Friday. The stock has a market cap of $3.33 billion and a P/E ratio of 24.47. The stock’s 50 day simple moving average is $44.42. 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 business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. On average, equities analysts forecast that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

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

Insider Activity at Versigent

In other Versigent news, Director Kevin Clark sold 74,130 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total transaction of $3,385,517.10. Following the sale, the director directly owned 124,849 shares in the company, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Oppenheimer set a $50.00 price target on Versigent in a report on Tuesday, July 21st. Zacks Research cut shares of Versigent from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group restated a “buy” rating and set a $59.00 price objective on shares of Versigent in a research report on Wednesday, August 5th. Weiss Ratings initiated coverage on shares of Versigent in a research note on Wednesday, August 5th. They issued a “hold (c)” rating for the company. Finally, Royal Bank Of Canada raised shares of Versigent from a “sector perform” rating to an “outperform” rating and lifted their target price for the company from $41.00 to $52.00 in a report on Wednesday, August 5th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Versigent currently has an average rating of “Moderate Buy” and a consensus price target of $54.00.

About Versigent

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.