Bank of New York Mellon Corp Buys 8,190 Shares of VSE Co. (NASDAQ:VSEC)

Bank of New York Mellon Corp increased its position in VSE Co. (NASDAQ:VSEC) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 84,987 shares of the construction company’s stock after buying an additional 8,190 shares during the period. Bank of New York Mellon Corp’s holdings in VSE were worth $7,503,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Park Avenue Securities LLC acquired a new position in shares of VSE during the first quarter valued at about $221,000. Caprock Group LLC bought a new position in VSE in the 1st quarter valued at about $241,000. Precision Wealth Strategies LLC acquired a new position in VSE during the 1st quarter valued at about $280,000. Price T Rowe Associates Inc. MD increased its holdings in 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 purchasing an additional 465 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its stake in shares of VSE by 80.8% in the first quarter. BNP Paribas Financial Markets now owns 6,431 shares of the construction company’s stock worth $514,000 after purchasing an additional 2,874 shares during the last quarter. Institutional investors own 91.54% of the company’s stock.

VSE Stock Up 0.5 %

Shares of NASDAQ VSEC opened at $83.81 on Thursday. The business’s fifty day moving average price is $87.72 and its 200-day moving average price is $82.32. VSE Co. has a one year low of $48.47 and a one year high of $94.10. The stock has a market capitalization of $1.34 billion, a PE ratio of 18.22 and a beta of 1.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.53 and a quick ratio of 1.17.

VSE (NASDAQ:VSEC) last posted its earnings results on Wednesday, July 31st. The construction company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by ($0.01). The business had revenue of $265.96 million during the quarter, compared to analysts’ expectations of $256.60 million. VSE had a return on equity of 7.87% and a net margin of 1.21%. On average, equities research analysts anticipate that VSE Co. will post 3.06 EPS for the current year.

VSE Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Wednesday, November 6th will be given a dividend of $0.10 per share. The ex-dividend date is Wednesday, November 6th. This represents a $0.40 annualized dividend and a dividend yield of 0.48%. VSE’s dividend payout ratio is currently 8.70%.

Analysts Set New Price Targets

Several research analysts recently issued reports on VSEC shares. Truist Financial upped their price target on VSE from $92.00 to $97.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Benchmark reiterated a “buy” rating and issued a $100.00 target price on shares of VSE in a research note on Friday, August 2nd. Stifel Nicolaus started coverage on VSE in a research report on Friday, June 28th. They set a “buy” rating and a $101.00 price target for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 price objective on shares of VSE in a research report on Thursday, August 1st. Finally, Jefferies Financial Group assumed coverage on VSE in a research note on Wednesday, August 14th. They issued a “buy” rating and a $100.00 price objective for the company. One analyst has rated the stock with a sell rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $99.83.

Insider Transactions at VSE

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

About VSE

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.