US Bancorp DE Decreases Holdings in The AES Co. (NYSE:AES)

Posted by Defense World Staff on Aug 25th, 2023

US Bancorp DE cut its stake in shares of The AES Co. (NYSE:AES – Free Report) by 3.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,391 shares of the utilities provider’s stock after selling 723 shares during the period. US Bancorp DE’s holdings in AES were worth $563,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its stake in AES by 1.2% during the 4th quarter. Russell Investments Group Ltd. now owns 98,841 shares of the utilities provider’s stock valued at $2,843,000 after buying an additional 1,178 shares during the last quarter. HighTower Advisors LLC increased its stake in shares of AES by 4.5% in the 4th quarter. HighTower Advisors LLC now owns 801,693 shares of the utilities provider’s stock worth $23,030,000 after purchasing an additional 34,581 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of AES by 2.8% in the 1st quarter. Yousif Capital Management LLC now owns 100,670 shares of the utilities provider’s stock worth $2,424,000 after purchasing an additional 2,771 shares in the last quarter. Texas Permanent School Fund Corp increased its stake in shares of AES by 48.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 138,957 shares of the utilities provider’s stock worth $3,346,000 after purchasing an additional 45,369 shares in the last quarter. Finally, Ieq Capital LLC increased its stake in shares of AES by 10.4% in the 1st quarter. Ieq Capital LLC now owns 28,089 shares of the utilities provider’s stock worth $676,000 after purchasing an additional 2,645 shares in the last quarter. 94.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on AES. Bank of America lowered AES from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $24.00 to $23.00 in a research note on Thursday, June 22nd. Susquehanna dropped their target price on shares of AES from $33.00 to $30.00 in a report on Thursday, August 3rd. Barclays started coverage on shares of AES in a report on Wednesday. They issued an “overweight” rating and a $25.00 target price for the company. StockNews.com started coverage on shares of AES in a report on Thursday, August 17th. They issued a “sell” rating for the company. Finally, UBS Group dropped their target price on shares of AES from $30.00 to $27.00 in a report on Tuesday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, AES has a consensus rating of “Moderate Buy” and a consensus price target of $28.83.

Get Our Latest Stock Report on AES

Insider Activity

In other AES news, Director Alain Monie acquired 27,400 shares of the company’s stock in a transaction dated Wednesday, August 16th. The shares were purchased at an average cost of $18.27 per share, for a total transaction of $500,598.00. Following the completion of the purchase, the director now owns 28,725 shares in the company, valued at $524,805.75. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Maura Shaughnessy bought 12,500 shares of the stock in a transaction on Tuesday, August 8th. The stock was bought at an average cost of $19.49 per share, for a total transaction of $243,625.00. Following the completion of the purchase, the director now directly owns 60,653 shares in the company, valued at $1,182,126.97. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alain Monie bought 27,400 shares of the stock in a transaction on Wednesday, August 16th. The stock was purchased at an average price of $18.27 per share, with a total value of $500,598.00. Following the completion of the purchase, the director now owns 28,725 shares of the company’s stock, valued at $524,805.75. The disclosure for this purchase can be found here. Insiders own 0.01% of the company’s stock.

AES Stock Down 3.3 %

Shares of NYSE:AES opened at $17.72 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.84 and a debt-to-equity ratio of 6.02. The AES Co. has a 12 month low of $17.65 and a 12 month high of $29.89. The company has a 50-day moving average price of $20.51 and a 200 day moving average price of $22.27. The company has a market cap of $11.87 billion, a price-to-earnings ratio of -29.05, a PEG ratio of 1.21 and a beta of 0.95.

AES (NYSE:AES – Get Free Report) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.21 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.04). AES had a negative net margin of 2.70% and a positive return on equity of 36.65%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the business posted $0.34 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts predict that The AES Co. will post 1.7 earnings per share for the current year.

AES Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 15th. Stockholders of record on Tuesday, August 1st were given a dividend of $0.1659 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date of this dividend was Monday, July 31st. AES’s dividend payout ratio (DPR) is presently -108.19%.

AES Company Profile

(Free Report)

The AES Corporation operates as a diversified power generation and utility company. It owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries. The company also 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.