Lazard Asset Management LLC Has $20.07 Million Stake in The AES Corporation (AES)
Lazard Asset Management LLC cut its stake in The AES Corporation (NYSE:AES) by 15.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,806,288 shares of the utilities provider’s stock after selling 333,773 shares during the quarter. Lazard Asset Management LLC owned about 0.27% of The AES Corporation worth $20,067,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Jane Street Group LLC purchased a new position in shares of The AES Corporation in the 1st quarter valued at $117,000. Ffcm LLC increased its holdings in shares of The AES Corporation by 171.8% in the 2nd quarter. Ffcm LLC now owns 10,495 shares of the utilities provider’s stock valued at $116,000 after acquiring an additional 6,634 shares during the period. HRT Financial LLC purchased a new position in shares of The AES Corporation in the 1st quarter valued at $132,000. Community Bank & Trust Waco Texas purchased a new position in shares of The AES Corporation in the 2nd quarter valued at $134,000. Finally, Pacer Advisors Inc. increased its holdings in shares of The AES Corporation by 3.1% in the 1st quarter. Pacer Advisors Inc. now owns 13,437 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 402 shares during the period. Institutional investors and hedge funds own 93.18% of the company’s stock.
Shares of The AES Corporation (AES) opened at 11.13 on Friday. The AES Corporation has a 12 month low of $10.60 and a 12 month high of $13.32. The firm’s market cap is $7.35 billion. The firm’s 50-day moving average price is $11.20 and its 200-day moving average price is $11.32.
The AES Corporation (NYSE:AES) last issued its quarterly earnings data on Tuesday, August 8th. The utilities provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. The company had revenue of $3.47 billion for the quarter, compared to analyst estimates of $2.97 billion. The AES Corporation had a positive return on equity of 15.86% and a negative net margin of 5.30%. The business’s quarterly revenue was up 7.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.17 earnings per share. Analysts expect that The AES Corporation will post $1.05 earnings per share for the current year.
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AES has been the topic of several research analyst reports. ValuEngine downgraded The AES Corporation from a “buy” rating to a “hold” rating in a research note on Friday, September 1st. BidaskClub upgraded The AES Corporation from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 23rd. Finally, Zacks Investment Research upgraded The AES Corporation from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research note on Wednesday, July 12th. Four equities research analysts have rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $12.40.
About The AES Corporation
The AES Corporation is a holding company. The Company, through its subsidiaries and affiliates, operates a diversified portfolio of electricity generation and distribution businesses. It is organized into six strategic business units (SBUs): the United States; Andes; Brazil; Mexico, Central America and the Caribbean (MCAC); Europe, and Asia.
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