Panagora Asset Management Inc. Sells 18,309 Shares of Vectrus Inc (NYSE:VEC)

Panagora Asset Management Inc. reduced its position in Vectrus Inc (NYSE:VEC) by 58.1% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 13,225 shares of the business services provider’s stock after selling 18,309 shares during the period. Panagora Asset Management Inc.’s holdings in Vectrus were worth $536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its stake in Vectrus by 900.3% during the 2nd quarter. Russell Investments Group Ltd. now owns 715,673 shares of the business services provider’s stock valued at $28,974,000 after acquiring an additional 644,127 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Vectrus by 4.4% in the 2nd quarter. Acadian Asset Management LLC now owns 326,218 shares of the business services provider’s stock valued at $13,230,000 after purchasing an additional 13,603 shares during the period. Wells Fargo & Company MN boosted its position in Vectrus by 2.7% during the 2nd quarter. Wells Fargo & Company MN now owns 110,653 shares of the business services provider’s stock worth $4,489,000 after acquiring an additional 2,960 shares during the last quarter. BNP Paribas Arbitrage SA boosted its holdings in shares of Vectrus by 147.4% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 5,774 shares of the business services provider’s stock valued at $234,000 after buying an additional 3,440 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in Vectrus by 13.1% in the 2nd quarter. Janney Montgomery Scott LLC now owns 13,666 shares of the business services provider’s stock valued at $554,000 after acquiring an additional 1,579 shares during the period. Hedge funds and other institutional investors own 93.66% of the company’s stock.

Several analysts recently weighed in on the company. ValuEngine lowered Vectrus from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Noble Financial restated a “hold” rating on shares of Vectrus in a research report on Thursday, August 8th. B. Riley started coverage on Vectrus in a report on Tuesday, June 25th. They issued a “buy” rating and a $49.00 target price for the company. Finally, Zacks Investment Research downgraded Vectrus from a “buy” rating to a “hold” rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.33.

NYSE VEC traded down $2.10 on Friday, hitting $38.90. The company’s stock had a trading volume of 1,559 shares, compared to its average volume of 85,785. Vectrus Inc has a 52-week low of $19.61 and a 52-week high of $46.51. The firm has a market cap of $471.76 million, a P/E ratio of 13.42 and a beta of 1.83. The company’s 50-day simple moving average is $41.45 and its 200 day simple moving average is $35.19. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 0.28.

Vectrus (NYSE:VEC) last posted its earnings results on Tuesday, August 6th. The business services provider reported $0.74 EPS for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.02. The business had revenue of $331.59 million during the quarter, compared to analyst estimates of $325.80 million. Vectrus had a return on equity of 15.37% and a net margin of 2.68%. On average, research analysts forecast that Vectrus Inc will post 3.22 EPS for the current fiscal year.

Vectrus Profile

Vectrus, Inc provides facility and logistics, and information technology and network communication services to the U.S. government worldwide. The company offers facility and logistics services, such as airfield management, ammunition management, civil engineering, communications, emergency services, life support activities, public works, security, transportation operations, warehouse management and distribution, and equipment maintenance, repair, and services for U.S.

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Institutional Ownership by Quarter for Vectrus (NYSE:VEC)

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