M&T Bank Corp Trims Stock Holdings in VSE Corporation (NASDAQ:VSEC)

M&T Bank Corp trimmed its position in VSE Corporation (NASDAQ:VSEC) by 22.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 1,960 shares of the construction company’s stock after selling 554 shares during the period. M&T Bank Corp’s holdings in VSE were worth $235,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its holdings in VSE by 33.0% in the first quarter. Envestnet Asset Management Inc. now owns 18,738 shares of the construction company’s stock worth $2,248,000 after acquiring an additional 4,653 shares in the last quarter. Penserra Capital Management LLC bought a new stake in VSE in the first quarter worth $634,000. Teacher Retirement System of Texas bought a new stake in VSE in the first quarter worth $337,000. Amalgamated Bank boosted its holdings in VSE by 36.5% in the first quarter. Amalgamated Bank now owns 610 shares of the construction company’s stock worth $73,000 after acquiring an additional 163 shares in the last quarter. Finally, KBC Group NV bought a new stake in VSE in the first quarter worth $99,000. 91.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on the company. Royal Bank Of Canada boosted their target price on VSE from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Thursday, May 8th. Truist Financial boosted their target price on VSE from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Finally, B. Riley boosted their target price on VSE from $145.00 to $150.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $130.00.

VSE Trading Down 0.8%

Shares of NASDAQ:VSEC opened at $131.40 on Friday. The company has a market cap of $2.72 billion, a P/E ratio of 164.25 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.90 and a quick ratio of 2.12. VSE Corporation has a 1 year low of $73.36 and a 1 year high of $140.64. The stock’s fifty day moving average price is $131.33 and its 200-day moving average price is $116.80.

VSE (NASDAQ:VSEC) last announced its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.23. The firm had revenue of $256.05 million for the quarter, compared to the consensus estimate of $248.20 million. VSE had a return on equity of 6.62% and a net margin of 1.41%. The company’s quarterly revenue was up 57.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.45 earnings per share. Sell-side analysts expect that VSE Corporation will post 2.96 earnings per share for the current year.

VSE Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 30th. Stockholders of record on Wednesday, July 16th will be issued a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Wednesday, July 16th. VSE’s payout ratio is currently 50.00%.

Insider Buying and Selling

In related news, Director Anita D. Britt sold 2,869 shares of the company’s stock in a transaction on Friday, May 9th. The stock was sold at an average price of $129.38, for a total transaction of $371,191.22. Following the completion of the sale, the director owned 3,837 shares in the company, valued at approximately $496,431.06. This represents a 42.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 14.60% of the company’s stock.

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.