Robeco Institutional Asset Management B.V. increased its position in Verso Corp (NYSE:VRS) by 27.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 501,012 shares of the basic materials company’s stock after acquiring an additional 108,813 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Verso were worth $10,732,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in VRS. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Verso by 53.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,106 shares of the basic materials company’s stock valued at $47,000 after buying an additional 737 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Verso by 191.8% during the 4th quarter. Meeder Asset Management Inc. now owns 2,197 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 1,444 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Verso by 24.3% during the 4th quarter. Legal & General Group Plc now owns 6,504 shares of the basic materials company’s stock valued at $145,000 after purchasing an additional 1,272 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of Verso during the 4th quarter valued at about $192,000. Finally, Jane Street Group LLC bought a new position in shares of Verso during the 3rd quarter valued at about $205,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Verso from a “strong sell” rating to a “strong-buy” rating and set a $26.00 price objective for the company in a research report on Thursday, May 2nd. B. Riley lowered shares of Verso from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $32.00 to $26.00 in a research report on Friday, April 12th. Finally, TheStreet lowered shares of Verso from a “b-” rating to a “c” rating in a research report on Tuesday, January 22nd. Two analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Verso presently has an average rating of “Buy” and an average target price of $34.00.
Verso (NYSE:VRS) last announced its earnings results on Wednesday, May 8th. The basic materials company reported $1.03 EPS for the quarter, topping the consensus estimate of $0.35 by $0.68. Verso had a net margin of 7.79% and a return on equity of 19.09%. The company had revenue of $639.00 million during the quarter, compared to analysts’ expectations of $632.26 million. Equities research analysts expect that Verso Corp will post 3.96 earnings per share for the current year.
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Verso Corporation produces and sells coated papers in North America. It operates through two segments, Paper and Pulp. The company offers coated freesheet and coated groundwood, specialty, packaging, inkjet and digital, supercalendered, and uncoated freesheet papers; and bleached and unbleached market kraft pulp to manufacture printing, writing, and tissue products.
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