Foundry Partners LLC Has $8.89 Million Holdings in The AES Co. (NYSE:AES)

Foundry Partners LLC lessened its holdings in shares of The AES Co. (NYSE:AES) by 57.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 428,614 shares of the utilities provider’s stock after selling 569,643 shares during the quarter. Foundry Partners LLC owned approximately 0.06% of AES worth $8,885,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of AES. Providence Capital Advisors LLC increased its position in AES by 2,315.2% during the first quarter. Providence Capital Advisors LLC now owns 4,870,758 shares of the utilities provider’s stock worth $202,274,000 after buying an additional 4,669,090 shares during the last quarter. Empower Advisory Group LLC acquired a new position in AES during the first quarter worth approximately $52,959,000. Vanguard Group Inc. increased its position in AES by 1.6% during the first quarter. Vanguard Group Inc. now owns 83,790,219 shares of the utilities provider’s stock worth $2,155,923,000 after buying an additional 1,285,423 shares during the last quarter. Clean Energy Transition LLP acquired a new position in AES during the first quarter worth approximately $31,799,000. Finally, Barclays PLC boosted its holdings in shares of AES by 83.2% during the first quarter. Barclays PLC now owns 2,062,167 shares of the utilities provider’s stock worth $49,655,000 after acquiring an additional 936,829 shares during the period. Institutional investors and hedge funds own 94.49% of the company’s stock.

AES Stock Down 0.9 %

Shares of NYSE:AES opened at $17.09 on Tuesday. The company has a fifty day moving average of $19.36 and a 200-day moving average of $21.24. 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 52-week low of $16.89 and a 52-week high of $29.89.

AES (NYSE:AES) last announced its quarterly earnings results on Friday, August 4th. The utilities provider reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.04). The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.08 billion. AES had a positive return on equity of 36.65% and a negative net margin of 2.70%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company posted $0.34 earnings per share. Analysts forecast that The AES Co. will post 1.7 EPS for the current year.

AES Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 15th. Investors of record on Tuesday, August 1st were issued a $0.1659 dividend. The ex-dividend date of this dividend was Monday, July 31st. This represents a $0.66 dividend on an annualized basis and a yield of 3.88%. AES’s payout ratio is -108.19%.

Insider Activity at AES

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Susquehanna reduced their price objective on AES from $33.00 to $30.00 in a report on Thursday, August 3rd. Bank of America cut 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 report on Thursday, June 22nd. Royal Bank of Canada cut their price target on AES from $26.00 to $23.00 and set an “outperform” rating for the company in a research note on Wednesday, September 6th. Barclays started coverage on AES in a research note on Wednesday, August 23rd. They issued an “overweight” rating and a $25.00 price target for the company. Finally, StockNews.com upgraded AES to a “sell” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat, AES presently has an average rating of “Moderate Buy” and a consensus target price of $28.08.

AES Company Profile

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.