Intech Investment Management LLC Sells 133,458 Shares of The AES Co. (NYSE:AES)

Intech Investment Management LLC lowered its stake in shares of The AES Co. (NYSE:AES - Free Report) by 33.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 271,090 shares of the utilities provider's stock after selling 133,458 shares during the quarter. Intech Investment Management LLC's holdings in AES were worth $5,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of AES. Sei Investments Co. increased its position in shares of AES by 25.1% during the first quarter. Sei Investments Co. now owns 62,296 shares of the utilities provider's stock valued at $1,117,000 after buying an additional 12,510 shares during the period. O Shaughnessy Asset Management LLC bought a new stake in AES during the first quarter worth about $189,000. Bessemer Group Inc. boosted its stake in AES by 28.1% during the first quarter. Bessemer Group Inc. now owns 10,452 shares of the utilities provider's stock worth $188,000 after acquiring an additional 2,290 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its stake in AES by 0.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 205,127 shares of the utilities provider's stock worth $3,679,000 after acquiring an additional 1,003 shares in the last quarter. Finally, EntryPoint Capital LLC boosted its stake in AES by 146.3% during the first quarter. EntryPoint Capital LLC now owns 3,468 shares of the utilities provider's stock worth $62,000 after acquiring an additional 2,060 shares in the last quarter. Hedge funds and other institutional investors own 93.13% of the company's stock.

AES Stock Performance

AES stock traded down $0.21 during midday trading on Friday, reaching $13.04. 29,753,068 shares of the company's stock traded hands, compared to its average volume of 15,983,440. The AES Co. has a 52-week low of $12.97 and a 52-week high of $22.21. The stock has a market cap of $9.27 billion, a P/E ratio of 9.06 and a beta of 1.10. The company has a current ratio of 0.85, a quick ratio of 0.80 and a debt-to-equity ratio of 3.21. The stock's 50-day moving average is $16.96 and its 200 day moving average is $17.95.

AES (NYSE:AES - Get Free Report) last announced its earnings results on Thursday, October 31st. The utilities provider reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.11. AES had a net margin of 8.34% and a return on equity of 27.30%. The business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.46 billion. During the same period in the prior year, the company earned $0.60 earnings per share. The firm's revenue was down 4.2% on a year-over-year basis. As a group, analysts anticipate that The AES Co. will post 1.93 EPS for the current year.

AES Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Friday, November 1st were paid a $0.1725 dividend. The ex-dividend date was Friday, November 1st. This represents a $0.69 dividend on an annualized basis and a dividend yield of 5.29%. AES's dividend payout ratio (DPR) is presently 47.92%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on AES shares. Barclays boosted their price objective on shares of AES from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Mizuho dropped their target price on shares of AES from $24.00 to $16.00 and set an "outperform" rating on the stock in a research note on Thursday. Susquehanna dropped their target price on shares of AES from $24.00 to $21.00 and set a "positive" rating on the stock in a research note on Tuesday, November 5th. Jefferies Financial Group initiated coverage on shares of AES in a research note on Wednesday, September 11th. They issued a "buy" rating and a $20.00 target price on the stock. Finally, Evercore ISI upgraded shares of AES to a "strong-buy" rating in a research note on Wednesday, September 18th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $21.38.

AES Company Profile

The AES Corporation, together with its subsidiaries, operates as a diversified power generation and utility company in the United States and internationally. The company owns and/or operates power plants to generate and sell power to customers, such as utilities, industrial users, and other intermediaries; 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.