Los Angeles Capital Management LLC Sells 54,141 Shares of The AES Co. (NYSE:AES)

Los Angeles Capital Management LLC trimmed its position in The AES Co. (NYSE:AES) by 19.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 223,762 shares of the utilities provider’s stock after selling 54,141 shares during the period. Los Angeles Capital Management LLC’s holdings in AES were worth $4,012,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Glassman Wealth Services raised its position in shares of AES by 186.1% during the fourth quarter. Glassman Wealth Services now owns 1,928 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 1,254 shares during the period. Private Trust Co. NA lifted its stake in shares of AES by 68.8% in the fourth quarter. Private Trust Co. NA now owns 2,669 shares of the utilities provider’s stock valued at $51,000 after buying an additional 1,088 shares in the last quarter. Principal Securities Inc. acquired a new position in shares of AES during the fourth quarter valued at about $57,000. Allworth Financial LP raised its holdings in shares of AES by 133.7% in the 4th quarter. Allworth Financial LP now owns 3,110 shares of the utilities provider’s stock worth $60,000 after acquiring an additional 1,779 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in AES by 267.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 3,587 shares of the utilities provider’s stock valued at $69,000 after acquiring an additional 2,611 shares in the last quarter. 93.13% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on AES shares. Mizuho boosted their price objective on AES from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley restated an “overweight” rating and set a $25.00 price objective on shares of AES in a research note on Monday, March 25th. UBS Group reduced their target price on shares of AES from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and set a $22.00 price target on shares of AES in a report on Tuesday, April 9th. Finally, Argus reiterated a “buy” rating and issued a $25.00 price objective on shares of AES in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $22.50.

AES Stock Down 0.5 %

AES opened at $18.86 on Friday. The company’s 50-day moving average price is $19.27 and its two-hundred day moving average price is $18.01. The company has a quick ratio of 0.71, a current ratio of 0.78 and a debt-to-equity ratio of 4.04. The AES Co. has a twelve month low of $11.43 and a twelve month high of $22.60. The stock has a market cap of $13.40 billion, a price-to-earnings ratio of 26.19 and a beta of 1.11.

AES (NYSE:AES) last announced its quarterly earnings data on Friday, May 3rd. The utilities provider reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.16. AES had a return on equity of 36.23% and a net margin of 4.40%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.20 billion. During the same period in the prior year, the company earned $0.22 earnings per share. AES’s revenue was down 4.8% compared to the same quarter last year. As a group, equities analysts expect that The AES Co. will post 1.91 earnings per share for the current year.

About AES

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.