Kevin Clark Sells 48,592 Shares of Versigent (NYSE:VGNT) Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 48,592 shares of the business’s stock in a transaction on Tuesday, September 8th. The shares were sold at an average price of $48.02, for a total transaction of $2,333,387.84. Following the sale, the director owned 198,979 shares in the company, valued at approximately $9,554,971.58. This trade represents a 19.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Versigent Price Performance

NYSE:VGNT opened at $46.98 on Friday. 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 stock has a 50-day simple moving average of $44.42. The stock has a market cap of $3.33 billion and a P/E ratio of 24.47. Versigent has a 1-year low of $26.34 and a 1-year high of $50.88.

Versigent (NYSE:VGNT) last issued its quarterly earnings results on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Equities analysts anticipate that Versigent will post 7.23 EPS for the current fiscal year.

Versigent Dividend Announcement

The firm also recently announced 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.

Hedge Funds Weigh In On Versigent

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Sequoia Financial Advisors LLC purchased a new stake in Versigent during the 2nd quarter valued at $220,000. IPG Investment Advisors LLC purchased a new position in shares of Versigent in the second quarter worth $871,000. WINTON GROUP Ltd purchased a new position in shares of Versigent in the second quarter worth $8,397,000. Engineers Gate Manager LP bought a new position in shares of Versigent during the second quarter valued at $418,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of Versigent during the second quarter valued at $57,000.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on VGNT. Weiss Ratings assumed coverage on Versigent in a research note on Wednesday, August 5th. They issued a “hold (c)” rating on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $54.00 target price on shares of Versigent in a report on Wednesday, August 5th. The Goldman Sachs Group restated a “buy” rating and set a $59.00 price target on shares of Versigent in a report on Wednesday, August 5th. Royal Bank Of Canada raised Versigent from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Finally, TD Cowen increased their price objective on shares of Versigent from $49.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, August 5th. Eleven equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Versigent has an average rating of “Moderate Buy” and a consensus 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.