BlueMountain Capital Management LLC Boosts Holdings in Aegion Corp (AEGN)
BlueMountain Capital Management LLC raised its position in shares of Aegion Corp (NASDAQ:AEGN) by 293.5% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,748 shares of the construction company’s stock after acquiring an additional 7,271 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Aegion were worth $251,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Schwab Charles Investment Management Inc. raised its position in shares of Aegion by 6.2% during the first quarter. Schwab Charles Investment Management Inc. now owns 311,309 shares of the construction company’s stock worth $7,133,000 after purchasing an additional 18,189 shares during the period. KBC Group NV raised its position in shares of Aegion by 6.0% during the first quarter. KBC Group NV now owns 180,676 shares of the construction company’s stock worth $4,139,000 after purchasing an additional 10,181 shares during the period. BlackRock Inc. raised its position in shares of Aegion by 0.5% during the first quarter. BlackRock Inc. now owns 4,381,939 shares of the construction company’s stock worth $100,391,000 after purchasing an additional 21,054 shares during the period. Russell Investments Group Ltd. acquired a new stake in shares of Aegion during the first quarter worth about $1,670,000. Finally, Nuveen Asset Management LLC raised its position in shares of Aegion by 6.7% during the first quarter. Nuveen Asset Management LLC now owns 1,414,881 shares of the construction company’s stock worth $32,415,000 after purchasing an additional 88,887 shares during the period. 92.19% of the stock is currently owned by institutional investors and hedge funds.
AEGN has been the topic of a number of research analyst reports. BidaskClub lowered Aegion from a “buy” rating to a “hold” rating in a research report on Friday, June 8th. Zacks Investment Research raised Aegion from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, July 3rd. ValuEngine lowered Aegion from a “buy” rating to a “hold” rating in a research report on Friday, July 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $27.00 price target on shares of Aegion in a research report on Thursday, August 2nd. Finally, Stifel Nicolaus raised their price target on Aegion from $28.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, August 6th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $27.75.
Aegion (NASDAQ:AEGN) last announced its earnings results on Wednesday, August 1st. The construction company reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.05). Aegion had a negative net margin of 6.33% and a positive return on equity of 6.50%. The firm had revenue of $335.03 million during the quarter, compared to analyst estimates of $328.80 million. research analysts forecast that Aegion Corp will post 1.36 earnings per share for the current year.
Aegion Company Profile
Aegion Corporation provides technologies to maintain, rehabilitate, and strengthen infrastructure worldwide. It operates through three segments: Infrastructure Solutions, Corrosion Protection, and Energy Services. The company offers various solutions for rehabilitating and maintaining aging or deteriorating infrastructure; protecting new infrastructure from corrosion; and providing integrated professional services in engineering, procurement, construction, maintenance, and turnaround services for oil companies.
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