California State Teachers Retirement System Sells 40,472 Shares of The AES Co. (NYSE:AES)

California State Teachers Retirement System cut its stake in shares of The AES Co. (NYSE:AES) by 4.6% in the fourth quarter, Holdings Channel reports. The fund owned 845,966 shares of the utilities provider’s stock after selling 40,472 shares during the period. California State Teachers Retirement System’s holdings in AES were worth $10,888,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Optiver Holding B.V. lifted its holdings in AES by 79.5% during the 4th quarter. Optiver Holding B.V. now owns 2,711 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 1,201 shares during the last quarter. WR Wealth Planners LLC raised its stake in shares of AES by 93.3% in the fourth quarter. WR Wealth Planners LLC now owns 2,837 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 1,369 shares during the last quarter. Nissay Asset Management Corp Japan ADV boosted its holdings in shares of AES by 1.6% in the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 85,866 shares of the utilities provider’s stock worth $1,095,000 after acquiring an additional 1,382 shares in the last quarter. Signature Estate & Investment Advisors LLC grew its position in AES by 11.4% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 14,082 shares of the utilities provider’s stock worth $181,000 after acquiring an additional 1,436 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB raised its position in AES by 22.4% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 8,472 shares of the utilities provider’s stock valued at $109,000 after purchasing an additional 1,551 shares during the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.

AES Stock Up 0.4%

Shares of AES stock opened at $10.09 on Friday. The AES Co. has a 12 month low of $9.46 and a 12 month high of $22.21. The business has a fifty day simple moving average of $10.80 and a 200 day simple moving average of $11.67. 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 stock has a market cap of $7.18 billion, a PE ratio of 7.01, a price-to-earnings-growth ratio of 0.82 and a beta of 0.94.

AES (NYSE:AES) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.10). The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $3.13 billion. AES had a net margin of 8.34% and a return on equity of 27.30%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.60 earnings per share. Research analysts predict that The AES Co. will post 1.93 EPS for the current year.

Analyst Ratings Changes

AES has been the topic of several research analyst reports. Bank of America upgraded AES from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $11.00 to $13.00 in a report on Tuesday, March 4th. Citigroup dropped their target price on shares of AES from $23.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, May 9th. Wall Street Zen cut shares of AES from a “hold” rating to a “sell” rating in a research note on Saturday, May 24th. HSBC reduced their price objective on AES from $15.00 to $14.00 in a report on Monday, May 5th. Finally, Jefferies Financial Group cut AES from a “hold” rating to an “underperform” rating and lowered their target price for the company from $10.00 to $9.00 in a research note on Tuesday, May 20th. Three analysts have rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $24.22.

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.