Hohimer Wealth Management LLC Sells 4,108 Shares of The AES Co. (NYSE:AES)

Hohimer Wealth Management LLC lessened its holdings in The AES Co. (NYSE:AES) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 43,943 shares of the utilities provider’s stock after selling 4,108 shares during the period. Hohimer Wealth Management LLC’s holdings in AES were worth $881,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in AES. Rothschild Investment LLC acquired a new position in AES during the 2nd quarter worth approximately $28,000. Millburn Ridgefield Corp acquired a new position in shares of AES during the third quarter worth $28,000. UMB Bank n.a. lifted its stake in shares of AES by 102.3% in the 2nd quarter. UMB Bank n.a. now owns 1,776 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 898 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of AES during the 2nd quarter valued at $33,000. Finally, Cromwell Holdings LLC grew its position in AES by 59.1% during the 3rd quarter. Cromwell Holdings LLC now owns 1,723 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 93.13% of the company’s stock.

Wall Street Analyst Weigh In

AES has been the topic of a number of recent research reports. Susquehanna cut their price target on AES from $24.00 to $21.00 and set a “positive” rating on the stock in a research note on Tuesday, November 5th. Bank of America initiated coverage on shares of AES in a research report on Monday, November 25th. They set an “underperform” rating and a $11.00 target price on the stock. Evercore ISI upgraded shares of AES to a “strong-buy” rating in a research report on Wednesday, September 18th. 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. Finally, Mizuho lowered their target price on AES from $24.00 to $16.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.22.

AES Price Performance

AES stock opened at $13.65 on Wednesday. The company has a quick ratio of 0.80, a current ratio of 0.85 and a debt-to-equity ratio of 3.21. The firm has a market cap of $9.71 billion, a price-to-earnings ratio of 9.48, a PEG ratio of 0.68 and a beta of 1.02. The company’s fifty day simple moving average is $15.34 and its 200 day simple moving average is $17.25. The AES Co. has a 12-month low of $12.53 and a 12-month high of $22.21.

AES (NYSE:AES) last announced its quarterly earnings data on Thursday, October 31st. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.11. AES had a return on equity of 27.30% and a net margin of 8.34%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.46 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue was down 4.2% compared to the same quarter last year. On average, analysts expect that The AES Co. will post 1.95 earnings per share for the current year.

AES Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Friday, January 31st will be given a dividend of $0.176 per share. This is an increase from AES’s previous quarterly dividend of $0.17. The ex-dividend date is Friday, January 31st. This represents a $0.70 annualized dividend and a dividend yield of 5.16%. AES’s dividend payout ratio (DPR) is 47.92%.

About AES

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.