Millrace Asset Group Inc. Raises Position in VSE Co. (NASDAQ:VSEC)

Millrace Asset Group Inc. raised its holdings in shares of VSE Co. (NASDAQ:VSEC) by 4.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 23,364 shares of the construction company’s stock after buying an additional 956 shares during the quarter. VSE comprises about 2.0% of Millrace Asset Group Inc.’s holdings, making the stock its 20th largest position. Millrace Asset Group Inc.’s holdings in VSE were worth $1,933,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in shares of VSE during the 2nd quarter valued at about $42,000. US Bancorp DE raised its stake in shares of VSE by 1,180.2% during the third quarter. US Bancorp DE now owns 2,586 shares of the construction company’s stock worth $214,000 after acquiring an additional 2,384 shares in the last quarter. Archer Investment Corp bought a new stake in shares of VSE in the 2nd quarter worth approximately $247,000. Park Avenue Securities LLC lifted its holdings in shares of VSE by 13.8% in the 3rd quarter. Park Avenue Securities LLC now owns 3,818 shares of the construction company’s stock worth $316,000 after acquiring an additional 464 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in shares of VSE by 22.9% in the 2nd quarter. Arizona State Retirement System now owns 4,521 shares of the construction company’s stock valued at $399,000 after purchasing an additional 842 shares in the last quarter. Hedge funds and other institutional investors own 91.54% of the company’s stock.

Insider Activity at VSE

In other VSE 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 completion of the sale, the insider now owns 463,284 shares in the company, valued at approximately $42,543,369.72. This represents a 3.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 14.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

VSEC has been the topic of a number of recent research reports. Benchmark reaffirmed a “buy” rating and set a $100.00 price objective on shares of VSE in a research note on Friday, August 2nd. Royal Bank of Canada increased their price objective on VSE from $120.00 to $125.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of VSE to a “sell” rating in a report on Thursday, November 7th. B. Riley upped their price objective on shares of VSE from $120.00 to $132.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Jefferies Financial Group increased their target price on shares of VSE from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.83.

VSE Price Performance

Shares of VSEC stock opened at $116.09 on Tuesday. The business’s fifty day moving average is $99.30 and its 200 day moving average is $90.08. The company has a quick ratio of 1.15, a current ratio of 3.69 and a debt-to-equity ratio of 0.53. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 35.16 and a beta of 1.56. VSE Co. has a twelve month low of $57.10 and a twelve month high of $123.92.

VSE (NASDAQ:VSEC) last announced its quarterly earnings data on Wednesday, November 6th. The construction company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.08. The business had revenue of $273.61 million during the quarter, compared to analysts’ expectations of $270.88 million. VSE had a return on equity of 7.26% and a net margin of 1.36%. During the same quarter in the previous year, the business earned $0.92 earnings per share. Research analysts expect that VSE Co. will post 2.9 EPS for the current fiscal year.

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.