Crossmark Global Holdings Inc. Acquires New Holdings in Aegion Corp (AEGN)
Crossmark Global Holdings Inc. acquired a new stake in shares of Aegion Corp (NASDAQ:AEGN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,300 shares of the construction company’s stock, valued at approximately $240,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. River Road Asset Management LLC bought a new position in shares of Aegion in the second quarter worth $7,762,000. First Trust Advisors LP boosted its holdings in shares of Aegion by 191.4% in the second quarter. First Trust Advisors LP now owns 311,103 shares of the construction company’s stock worth $6,807,000 after acquiring an additional 204,345 shares during the period. Northern Trust Corp raised its position in shares of Aegion by 31.1% in the second quarter. Northern Trust Corp now owns 860,285 shares of the construction company’s stock worth $18,823,000 after buying an additional 203,912 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Aegion by 65.6% in the second quarter. Thrivent Financial For Lutherans now owns 370,323 shares of the construction company’s stock worth $8,103,000 after buying an additional 146,670 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Aegion by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,050,397 shares of the construction company’s stock worth $69,885,000 after buying an additional 128,485 shares in the last quarter. 92.98% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research upgraded Aegion from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. TheStreet downgraded Aegion from a “b-” rating to a “c” rating in a research report on Thursday, November 2nd. Canaccord Genuity increased their price objective on Aegion from $26.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Craig Hallum downgraded Aegion from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, ValuEngine upgraded Aegion from a “hold” rating to a “buy” rating in a research report on Tuesday, September 12th. Five analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Aegion presently has a consensus rating of “Buy” and an average target price of $25.50.
Shares of Aegion Corp (NASDAQ:AEGN) opened at $27.25 on Friday. Aegion Corp has a 12-month low of $19.11 and a 12-month high of $28.19. 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 firm has a market capitalization of $898.72, a PE ratio of 21.59, a price-to-earnings-growth ratio of 2.05 and a beta of 1.76.
Aegion (NASDAQ:AEGN) last released its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.32 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.06. Aegion 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 for the quarter, compared to the consensus estimate of $328.98 million. During the same quarter last year, the business posted $0.32 earnings per share. The company’s revenue for the quarter was up 10.8% on a year-over-year basis. equities research analysts forecast that Aegion Corp will post 1.08 EPS for the current fiscal year.
In other news, EVP David F. Morris sold 9,239 shares of Aegion stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $28.05, for a total value of $259,153.95. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David A. Martin sold 10,000 shares of Aegion stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $24.00, for a total value of $240,000.00. Following the completion of the transaction, the chief financial officer now owns 101,430 shares in the company, valued at approximately $2,434,320. The disclosure for this sale can be found here. 3.62% of the stock is currently owned by insiders.
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Aegion Company 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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