Allspring Global Investments Holdings LLC Purchases New Stake in VSE Co. (NASDAQ:VSEC)

Allspring Global Investments Holdings LLC acquired a new position in shares of VSE Co. (NASDAQ:VSEC) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 116,968 shares of the construction company’s stock, valued at approximately $10,326,000. Allspring Global Investments Holdings LLC owned approximately 0.73% of VSE as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in shares of VSE by 8.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,246 shares of the construction company’s stock worth $500,000 after acquiring an additional 465 shares during the period. Fisher Asset Management LLC grew its position in VSE by 2.9% in the fourth quarter. Fisher Asset Management LLC now owns 25,093 shares of the construction company’s stock valued at $1,621,000 after acquiring an additional 710 shares during the last quarter. Principal Financial Group Inc. increased its position in VSE by 5.2% during the 1st quarter. Principal Financial Group Inc. now owns 20,916 shares of the construction company’s stock worth $1,673,000 after purchasing an additional 1,033 shares in the last quarter. AJOVista LLC acquired a new position in shares of VSE during the fourth quarter worth $75,000. Finally, Park Avenue Securities LLC bought a new position in VSE in the first quarter valued at about $221,000. 91.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder Calvin Scott Koonce sold 15,300 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $91.83, for a total value of $1,404,999.00. Following the transaction, the insider now directly owns 463,284 shares in the company, valued at approximately $42,543,369.72. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 14.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on VSEC shares. Benchmark restated a “buy” rating and issued a $100.00 price target on shares of VSE in a research report on Friday, August 2nd. B. Riley raised their target price on VSE from $91.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday, May 10th. Stifel Nicolaus assumed coverage on VSE in a research report on Friday, June 28th. They issued a “buy” rating and a $101.00 price target on the stock. Truist Financial raised their price objective on VSE from $92.00 to $97.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. Finally, Jefferies Financial Group initiated coverage on VSE in a report on Wednesday, August 14th. They issued a “buy” rating and a $100.00 target price on the stock. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $99.83.

VSE Stock Performance

VSEC stock opened at $93.03 on Friday. The firm has a market cap of $1.71 billion, a PE ratio of 28.17 and a beta of 1.59. The company has a current ratio of 3.53, a quick ratio of 1.17 and a debt-to-equity ratio of 0.55. The stock has a 50-day moving average price of $87.85 and a 200-day moving average price of $81.34. VSE Co. has a 1-year low of $48.47 and a 1-year high of $94.10.

VSE (NASDAQ:VSEC) last announced its quarterly earnings data on Wednesday, July 31st. The construction company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.65 by ($0.01). VSE had a return on equity of 7.87% and a net margin of 1.21%. The company had revenue of $265.96 million for the quarter, compared to analyst estimates of $256.60 million. As a group, equities research analysts expect that VSE Co. will post 3.06 earnings per share for the current year.

VSE Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Wednesday, November 6th will be issued a dividend of $0.10 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.43%.

VSE Profile

VSE Corporation operates as a diversified aftermarket products and services company in the United States. The company operates through two segments, Aviation and Fleet. The Aviation segment provides aftermarket parts supply and distribution; maintenance, repair, and overhaul services for components and engine accessories supporting commercial, business, and general aviation operators.