Vinva Investment Management Ltd Grows Position in Exelon Co. (NASDAQ:EXC)

Vinva Investment Management Ltd raised its stake in shares of Exelon Co. (NASDAQ:EXC) by 151.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,476 shares of the company’s stock after purchasing an additional 42,400 shares during the quarter. Vinva Investment Management Ltd’s holdings in Exelon were worth $2,846,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American National Bank & Trust boosted its position in Exelon by 178.8% in the third quarter. American National Bank & Trust now owns 697 shares of the company’s stock valued at $28,000 after buying an additional 447 shares during the last quarter. Versant Capital Management Inc lifted its stake in Exelon by 646.2% during the 2nd quarter. Versant Capital Management Inc now owns 776 shares of the company’s stock valued at $27,000 after acquiring an additional 672 shares during the period. Ashton Thomas Securities LLC purchased a new stake in shares of Exelon in the 3rd quarter valued at $32,000. J.Safra Asset Management Corp acquired a new stake in shares of Exelon in the second quarter worth $28,000. Finally, Abound Wealth Management increased its stake in shares of Exelon by 502.7% in the second quarter. Abound Wealth Management now owns 892 shares of the company’s stock worth $31,000 after acquiring an additional 744 shares during the period. Hedge funds and other institutional investors own 80.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Exelon from $40.00 to $42.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Barclays boosted their price objective on Exelon from $41.00 to $44.00 and gave the company an “overweight” rating in a report on Tuesday, October 15th. Scotiabank raised their target price on Exelon from $37.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley decreased their price target on Exelon from $46.00 to $44.00 and set an “equal weight” rating for the company in a report on Friday, November 22nd. Finally, UBS Group upped their price objective on Exelon from $40.00 to $43.00 and gave the stock a “neutral” rating in a research report on Friday, September 20th. Eleven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, Exelon presently has an average rating of “Hold” and an average price target of $41.25.

Exelon Stock Performance

EXC opened at $39.51 on Friday. The firm’s fifty day simple moving average is $39.60 and its two-hundred day simple moving average is $37.88. Exelon Co. has a 52-week low of $33.35 and a 52-week high of $41.42. The company has a market cap of $39.70 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 2.82 and a beta of 0.54. The company has a quick ratio of 0.97, a current ratio of 1.09 and a debt-to-equity ratio of 1.66.

Exelon (NASDAQ:EXC) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.67 by $0.04. Exelon had a net margin of 10.60% and a return on equity of 9.47%. The firm had revenue of $6.15 billion for the quarter, compared to analyst estimates of $5.85 billion. During the same period last year, the company posted $0.67 EPS. Exelon’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities analysts anticipate that Exelon Co. will post 2.45 earnings per share for the current fiscal year.

Exelon Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 11th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.85%. The ex-dividend date is Friday, November 8th. Exelon’s dividend payout ratio is currently 62.55%.

Exelon Company Profile

Exelon Corporation, a utility services holding company, engages in the energy distribution and transmission businesses in the United States and Canada. The company is involved in the purchase and regulated retail sale of electricity and natural gas, transmission and distribution of electricity, and distribution of natural gas to retail customers.