State Board of Administration of Florida Retirement System cut its stake in Aegion Corp. (NASDAQ:AEGN) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 43,096 shares of the company’s stock after selling 1,560 shares during the period. State Board of Administration of Florida Retirement System owned about 0.13% of Aegion Corp. worth $841,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. California Public Employees Retirement System increased its position in Aegion Corp. by 5.0% in the second quarter. California Public Employees Retirement System now owns 136,200 shares of the company’s stock valued at $2,657,000 after buying an additional 6,500 shares during the last quarter. Kleinwort Benson Investors Dublin Ltd acquired a new position in Aegion Corp. during the second quarter valued at $4,502,000. Ngam Advisors L.P. acquired a new position in Aegion Corp. during the second quarter valued at $230,000. Bank of New York Mellon Corp increased its position in Aegion Corp. by 1.7% in the second quarter. Bank of New York Mellon Corp now owns 657,339 shares of the company’s stock valued at $12,825,000 after buying an additional 11,009 shares during the last quarter. Finally, Tocqueville Asset Management L.P. increased its position in Aegion Corp. by 9.4% in the second quarter. Tocqueville Asset Management L.P. now owns 449,600 shares of the company’s stock valued at $8,772,000 after buying an additional 38,800 shares during the last quarter. 88.66% of the stock is owned by institutional investors.
Aegion Corp. (NASDAQ:AEGN) traded up 2.31% on Wednesday, hitting $19.04. The stock had a trading volume of 64,929 shares. The company has a 50-day moving average of $18.56 and a 200 day moving average of $19.69. The company’s market cap is $631.59 million. Aegion Corp. has a 12 month low of $16.00 and a 12 month high of $22.41.
Aegion Corp. (NASDAQ:AEGN) last released its earnings results on Tuesday, August 2nd. The company reported $0.23 EPS for the quarter, topping the Zacks’ consensus estimate of $0.22 by $0.01. Aegion Corp. had a positive return on equity of 7.08% and a negative net margin of 1.45%. The firm earned $297.69 million during the quarter, compared to the consensus estimate of $313.10 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue was down 11.7% compared to the same quarter last year. On average, analysts predict that Aegion Corp. will post $1.14 EPS for the current fiscal year.
Several research analysts have weighed in on the company. Sidoti assumed coverage on Aegion Corp. in a research note on Monday, June 27th. They issued a “neutral” rating for the company. Hilliard Lyons upgraded Aegion Corp. from a “neutral” rating to a “buy” rating in a research note on Tuesday, June 28th. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $22.00.
Aegion Corp. Company Profile
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company is engaged in providing technologies and services to protect against the corrosion of industrial pipelines, and rehabilitate and strengthen water, wastewater, energy and mining piping systems and buildings, bridges, tunnels and waterfront structures.
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