Artemis Investment Management LLP lessened its holdings in shares of AES Corp (NYSE:AES) by 1.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 668,892 shares of the utilities provider’s stock after selling 8,900 shares during the period. Artemis Investment Management LLP owned about 0.10% of AES worth $10,908,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Bank of The West raised its stake in shares of AES by 4.0% during the second quarter. Bank of The West now owns 16,540 shares of the utilities provider’s stock valued at $277,000 after acquiring an additional 641 shares in the last quarter. Assetmark Inc. raised its stake in shares of AES by 1.6% during the second quarter. Assetmark Inc. now owns 49,180 shares of the utilities provider’s stock valued at $824,000 after acquiring an additional 768 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in shares of AES by 5.8% during the second quarter. Cambridge Investment Research Advisors Inc. now owns 14,966 shares of the utilities provider’s stock valued at $251,000 after acquiring an additional 824 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of AES by 3.4% during the first quarter. Nordea Investment Management AB now owns 31,979 shares of the utilities provider’s stock valued at $577,000 after acquiring an additional 1,048 shares in the last quarter. Finally, Colony Group LLC raised its stake in shares of AES by 6.4% during the second quarter. Colony Group LLC now owns 18,256 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 1,096 shares in the last quarter. Institutional investors and hedge funds own 93.58% of the company’s stock.
Several analysts have recently weighed in on the stock. Evercore ISI set a $19.00 price target on shares of AES and gave the company a “buy” rating in a research note on Wednesday, August 7th. Morgan Stanley boosted their price objective on shares of AES from $17.50 to $18.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America raised shares of AES from an “underperform” rating to a “neutral” rating and set a $16.57 price objective for the company in a research note on Thursday, June 20th. TheStreet downgraded shares of AES from a “b” rating to a “c+” rating in a research note on Tuesday, August 6th. Finally, ValuEngine downgraded shares of AES from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $17.64.
AES (NYSE:AES) last issued its quarterly earnings data on Tuesday, August 6th. The utilities provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.01). The business had revenue of $2.48 billion during the quarter, compared to the consensus estimate of $2.43 billion. AES had a return on equity of 18.94% and a net margin of 3.78%. The business’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.25 EPS. On average, sell-side analysts expect that AES Corp will post 1.34 EPS for the current year.
In other AES news, Director Jeffrey W. Ubben acquired 200,000 shares of AES stock in a transaction that occurred on Monday, August 12th. The stock was bought at an average price of $15.25 per share, with a total value of $3,050,000.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Julian Nebreda sold 18,864 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $15.24, for a total transaction of $287,487.36. Following the completion of the transaction, the senior vice president now directly owns 35,314 shares of the company’s stock, valued at approximately $538,185.36. The disclosure for this sale can be found here. Insiders own 1.06% of the company’s stock.
The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also owns and/or operates utilities to generate or purchase, distribute, transmit, and sell electricity to end-user customers in the residential, commercial, industrial, and governmental sectors; and generates and sells electricity on the wholesale market.
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