Nomura Asset Management Co. Ltd. lifted its holdings in shares of AES Corp (NYSE:AES) by 11.7% during the 1st quarter, HoldingsChannel reports. The fund owned 148,050 shares of the utilities provider’s stock after buying an additional 15,474 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in AES were worth $2,677,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. DAVENPORT & Co LLC raised its position in shares of AES by 0.7% during the 1st quarter. DAVENPORT & Co LLC now owns 87,359 shares of the utilities provider’s stock worth $1,579,000 after acquiring an additional 596 shares in the last quarter. Huntington National Bank raised its position in shares of AES by 14.0% during the 4th quarter. Huntington National Bank now owns 5,133 shares of the utilities provider’s stock worth $74,000 after acquiring an additional 632 shares in the last quarter. Covington Capital Management raised its position in shares of AES by 55.7% during the 4th quarter. Covington Capital Management now owns 2,335 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 835 shares in the last quarter. M&T Bank Corp raised its position in shares of AES by 2.2% during the 4th quarter. M&T Bank Corp now owns 45,658 shares of the utilities provider’s stock worth $660,000 after acquiring an additional 995 shares in the last quarter. Finally, Investors Research Corp raised its position in shares of AES by 1.7% during the 4th quarter. Investors Research Corp now owns 60,964 shares of the utilities provider’s stock worth $882,000 after acquiring an additional 1,000 shares in the last quarter. 93.53% of the stock is currently owned by institutional investors and hedge funds.

In related news, insider Jeffrey W. Ubben bought 2,582,000 shares of the stock in a transaction on Monday, May 13th. The shares were bought at an average cost of $16.10 per share, for a total transaction of $41,570,200.00. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Jeffrey W. Ubben bought 2,482,000 shares of the stock in a transaction on Thursday, May 9th. The stock was bought at an average price of $16.11 per share, for a total transaction of $39,985,020.00. The disclosure for this purchase can be found here. Insiders own 1.06% of the company’s stock.

AES has been the topic of several research analyst reports. Zacks Investment Research raised AES from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research report on Tuesday, April 16th. Argus raised AES from a “hold” rating to a “buy” rating in a research report on Wednesday, May 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $14.50.

AES opened at $15.93 on Tuesday. The company has a market cap of $10.49 billion, a price-to-earnings ratio of 12.85, a PEG ratio of 1.50 and a beta of 1.06. AES Corp has a 52 week low of $12.47 and a 52 week high of $18.52. The company has a current ratio of 1.34, a quick ratio of 1.21 and a debt-to-equity ratio of 3.27.

AES (NYSE:AES) last released its quarterly earnings results on Tuesday, May 7th. The utilities provider reported $0.28 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.02). The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.47 billion. AES had a return on equity of 19.05% and a net margin of 6.32%. The company’s quarterly revenue was down 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.28 EPS. Equities analysts predict that AES Corp will post 1.34 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Wednesday, May 1st were given a dividend of $0.1365 per share. This represents a $0.55 annualized dividend and a yield of 3.43%. The ex-dividend date of this dividend was Tuesday, April 30th. AES’s dividend payout ratio (DPR) is 44.35%.

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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.

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Institutional Ownership by Quarter for AES (NYSE:AES)

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