Aegion Corp (AEGN) Position Reduced by New York State Teachers Retirement System
New York State Teachers Retirement System reduced its holdings in shares of Aegion Corp (NASDAQ:AEGN) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 109,197 shares of the construction company’s stock after selling 3,900 shares during the quarter. New York State Teachers Retirement System owned approximately 0.33% of Aegion Corp worth $2,542,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of AEGN. NGAM Advisors L.P. raised its stake in shares of Aegion Corp by 1.2% in the second quarter. NGAM Advisors L.P. now owns 11,569 shares of the construction company’s stock valued at $253,000 after buying an additional 140 shares during the period. Public Employees Retirement System of Ohio raised its stake in shares of Aegion Corp by 10.1% in the second quarter. Public Employees Retirement System of Ohio now owns 4,643 shares of the construction company’s stock valued at $102,000 after buying an additional 426 shares during the period. Security National Bank of Sioux City Iowa IA raised its stake in shares of Aegion Corp by 1.3% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 61,021 shares of the construction company’s stock valued at $1,335,000 after buying an additional 795 shares during the period. Advisor Group Inc. raised its stake in shares of Aegion Corp by 7.7% in the second quarter. Advisor Group Inc. now owns 14,000 shares of the construction company’s stock valued at $306,000 after buying an additional 1,000 shares during the period. Finally, Security National Bank of SO Dak raised its stake in shares of Aegion Corp by 2.3% in the second quarter. Security National Bank of SO Dak now owns 48,882 shares of the construction company’s stock valued at $1,069,000 after buying an additional 1,090 shares during the period. Institutional investors and hedge funds own 90.08% of the company’s stock.
Aegion Corp (NASDAQ AEGN) opened at $26.89 on Monday. Aegion Corp has a 52-week low of $19.11 and a 52-week high of $27.48. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.09 and a current ratio of 2.36. The company has a market capitalization of $874.65, a PE ratio of 21.01, a P/E/G ratio of 2.00 and a beta of 1.68.
Aegion Corp (NASDAQ:AEGN) last posted its earnings results on Wednesday, November 1st. The construction company reported $0.32 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. Aegion Corp had a positive return on equity of 7.62% and a negative net margin of 3.03%. The business had revenue of $341.87 million during the quarter, compared to analysts’ expectations of $328.98 million. During the same period in the previous year, the business earned $0.32 earnings per share. The firm’s revenue was up 10.8% on a year-over-year basis. equities research analysts predict that Aegion Corp will post 1.08 EPS for the current year.
Aegion Corp declared that its board has initiated a share repurchase program on Wednesday, November 1st that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the construction company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.
AEGN has been the topic of a number of analyst reports. TheStreet lowered Aegion Corp from a “b-” rating to a “c” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded Aegion Corp from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Sidoti lowered Aegion Corp from a “buy” rating to a “neutral” rating in a research note on Wednesday, August 2nd. Craig Hallum lowered Aegion Corp from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $23.50 price objective on shares of Aegion Corp in a research note on Monday, August 7th. Six research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $25.50.
In related news, CFO David A. Martin sold 10,000 shares of the business’s stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the chief financial officer now directly owns 101,430 shares in the company, valued at $2,434,320. The transaction was disclosed in a document filed with the SEC, which is available through this link. 3.62% of the stock is owned by insiders.
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Aegion Corp Profile
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Company offers service solutions, including rehabilitation of water and wastewater pipelines with Insituform cured-in-place pipe (CIPP) products; fusible polyvinyl chloride products for rehabilitation; fiber reinforced polymer systems for rehabilitation and strengthening; cathodic protection for corrosion engineering control and infrastructure rehabilitation; pipe coatings for corrosion control and prevention; high density polyethylene (HDPE) pipe lining for corrosion control, abrasion protection and pipeline rehabilitation, and construction and maintenance of oil and gas facilities.
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