Pacer Advisors Inc. Has $502,000 Position in The AES Corporation $AES

Pacer Advisors Inc. reduced its holdings in The AES Corporation (NYSE:AES) by 78.9% in the first quarter, HoldingsChannel reports. The firm owned 35,596 shares of the utilities provider’s stock after selling 133,393 shares during the period. Pacer Advisors Inc.’s holdings in AES were worth $502,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Horizon Investments LLC increased its stake in AES by 4,710.9% in the fourth quarter. Horizon Investments LLC now owns 542,528 shares of the utilities provider’s stock valued at $7,780,000 after purchasing an additional 531,251 shares in the last quarter. Kryger Capital LLC acquired a new stake in shares of AES in the 1st quarter valued at about $31,702,000. SG Americas Securities LLC grew its stake in shares of AES by 99.8% in the 1st quarter. SG Americas Securities LLC now owns 14,280,668 shares of the utilities provider’s stock valued at $201,215,000 after buying an additional 7,133,230 shares during the period. Sound Shore Management Inc. CT increased its position in AES by 17.0% in the 4th quarter. Sound Shore Management Inc. CT now owns 6,898,342 shares of the utilities provider’s stock valued at $98,922,000 after buying an additional 1,002,530 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in AES during the 1st quarter worth approximately $1,842,000. 93.13% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c)” rating on shares of AES in a research report on Monday, June 1st. Eight equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, AES currently has an average rating of “Hold” and an average target price of $15.71.

AES Trading Down 0.0%

NYSE:AES opened at $14.72 on Wednesday. The company has a debt-to-equity ratio of 2.93, a current ratio of 0.75 and a quick ratio of 0.67. The AES Corporation has a one year low of $12.33 and a one year high of $17.65. The company has a market cap of $10.51 billion, a PE ratio of 7.87 and a beta of 0.97. The firm has a 50-day moving average of $14.71 and a 200-day moving average of $14.76.

AES Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Friday, July 31st will be paid a $0.176 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date is Friday, July 31st. AES’s payout ratio is presently 37.43%.

About AES

AES Corporation is a global energy company focused on the generation and distribution of electricity across diversified markets. Headquartered in Arlington, Virginia, AES develops, builds and operates power plants and distribution systems that serve residential, industrial and commercial customers. The company’s portfolio includes thermal, renewable and battery energy storage facilities designed to deliver reliable and sustainable electricity solutions.

Through its subsidiaries, AES operates a balanced mix of power generation assets, including natural gas, coal and renewables such as solar and wind.