Intact Investment Management Inc. lessened its position in shares of AES Corp (NYSE:AES) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,900 shares of the utilities provider’s stock after selling 7,300 shares during the period. Intact Investment Management Inc.’s holdings in AES were worth $2,405,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the business. Capital World Investors boosted its position in shares of AES by 69.8% during the 4th quarter. Capital World Investors now owns 73,251,344 shares of the utilities provider’s stock worth $1,457,702,000 after acquiring an additional 30,109,393 shares in the last quarter. FMR LLC boosted its position in AES by 45.9% in the fourth quarter. FMR LLC now owns 26,528,636 shares of the utilities provider’s stock valued at $527,919,000 after buying an additional 8,346,247 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in AES by 16.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 14,300,273 shares of the utilities provider’s stock valued at $284,576,000 after buying an additional 2,033,389 shares in the last quarter. Renaissance Technologies LLC boosted its position in AES by 26.8% in the fourth quarter. Renaissance Technologies LLC now owns 13,558,100 shares of the utilities provider’s stock valued at $269,806,000 after buying an additional 2,866,806 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in AES by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,902,259 shares of the utilities provider’s stock valued at $97,555,000 after buying an additional 14,848 shares in the last quarter. 93.27% of the stock is currently owned by institutional investors.
In related news, VP Tish Mendoza purchased 3,240 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was purchased at an average cost of $9.28 per share, with a total value of $30,067.20. Following the completion of the purchase, the vice president now owns 111,946 shares in the company, valued at approximately $1,038,858.88. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Lisa Krueger purchased 3,000 shares of the firm’s stock in a transaction on Thursday, March 19th. The stock was bought at an average cost of $10.99 per share, with a total value of $32,970.00. The disclosure for this purchase can be found here. Insiders have purchased 39,293 shares of company stock valued at $442,461 in the last three months. 1.54% of the stock is owned by insiders.
Shares of AES stock traded up $0.36 during trading hours on Thursday, hitting $13.18. 355,172 shares of the company’s stock traded hands, compared to its average volume of 8,367,320. The stock’s 50 day simple moving average is $17.07 and its 200 day simple moving average is $17.88. The stock has a market cap of $8.41 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14. AES Corp has a 12 month low of $8.11 and a 12 month high of $21.23. The company has a quick ratio of 0.93, a current ratio of 1.03 and a debt-to-equity ratio of 3.50.
AES (NYSE:AES) last released its quarterly earnings results on Friday, February 28th. The utilities provider reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.02. AES had a net margin of 2.97% and a return on equity of 22.82%. The firm had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm earned $0.36 earnings per share. The company’s revenue for the quarter was down 7.3% on a year-over-year basis. As a group, equities research analysts expect that AES Corp will post 1.43 EPS for the current fiscal year.
A number of analysts have weighed in on the stock. TheStreet lowered shares of AES from a “b” rating to a “c” rating in a research report on Friday, February 28th. UBS Group raised shares of AES from a “neutral” rating to a “buy” rating and dropped their price target for the company from $21.00 to $16.00 in a research note on Monday, March 16th. SunTrust Banks raised their price target on shares of AES from $22.00 to $23.00 and gave the company a “buy” rating in a research note on Monday, February 10th. Finally, Morgan Stanley raised shares of AES from an “equal weight” rating to an “overweight” rating and dropped their price target for the company from $19.00 to $16.50 in a research note on Monday. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $18.01.
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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