Suntrust Banks Inc. decreased its stake in shares of AES Corp (NYSE:AES) by 86.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,962 shares of the utilities provider’s stock after selling 92,451 shares during the period. Suntrust Banks Inc.’s holdings in AES were worth $150,000 as of its most recent SEC filing.
Other large investors also recently made changes to their positions in the company. Public Employees Retirement System of Ohio boosted its position in shares of AES by 7.9% during the third quarter. Public Employees Retirement System of Ohio now owns 312,162 shares of the utilities provider’s stock valued at $3,440,000 after buying an additional 22,799 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of AES by 39.3% during the third quarter. Schroder Investment Management Group now owns 1,091,840 shares of the utilities provider’s stock valued at $12,098,000 after buying an additional 307,915 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of AES during the third quarter valued at approximately $668,000. Convergence Investment Partners LLC purchased a new position in shares of AES during the fourth quarter valued at approximately $3,449,000. Finally, Wellington Shields Capital Management LLC purchased a new position in shares of AES during the fourth quarter valued at approximately $1,692,000. 93.45% of the stock is currently owned by institutional investors.
AES Corp (AES) opened at $10.74 on Tuesday. The company has a debt-to-equity ratio of 3.67, a current ratio of 1.06 and a quick ratio of 0.97. AES Corp has a 1 year low of $9.86 and a 1 year high of $12.05. The firm has a market capitalization of $7,166.34, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.14 and a beta of 1.26.
Several research analysts recently issued reports on the company. UBS Group assumed coverage on AES in a research report on Friday, February 2nd. They set a “neutral” rating and a $12.00 target price on the stock. ValuEngine raised AES from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. SunTrust Banks set a $14.00 price objective on AES and gave the stock a “buy” rating in a research report on Monday, February 12th. Bank of America raised AES from a “neutral” rating to a “buy” rating and set a $12.00 price objective on the stock in a research report on Monday, November 13th. Finally, Morgan Stanley cut their price objective on AES from $14.00 to $12.50 and set an “equal weight” rating on the stock in a research report on Wednesday, December 13th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $12.42.
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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