Eaton Vance Management decreased its position in Advanced Energy Industries Inc. (NASDAQ:AEIS) by 13.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,037 shares of the company’s stock after selling 2,000 shares during the period. Eaton Vance Management’s holdings in Advanced Energy Industries were worth $495,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of AEIS. PNC Financial Services Group Inc. raised its stake in shares of Advanced Energy Industries by 37.0% in the second quarter. PNC Financial Services Group Inc. now owns 2,664 shares of the company’s stock worth $101,000 after buying an additional 719 shares in the last quarter. BlackRock Inc. raised its stake in shares of Advanced Energy Industries by 30.1% in the first quarter. BlackRock Inc. now owns 3,104 shares of the company’s stock worth $109,000 after buying an additional 718 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $239,000. Adams Diversified Equity Fund Inc. bought a new stake in shares of Advanced Energy Industries during the second quarter worth approximately $281,000. Finally, Glenmede Trust Co. NA bought a new stake in shares of Advanced Energy Industries during the first quarter worth approximately $258,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.
Advanced Energy Industries Inc. (NASDAQ:AEIS) traded up 0.64% during trading on Friday, hitting $47.32. The stock had a trading volume of 266,061 shares. Advanced Energy Industries Inc. has a 1-year low of $24.25 and a 1-year high of $48.28. The company has a market capitalization of $1.88 billion, a P/E ratio of 18.14 and a beta of 1.02. The stock’s 50-day moving average price is $44.66 and its 200-day moving average price is $38.64.
Advanced Energy Industries (NASDAQ:AEIS) last released its earnings results on Monday, August 1st. The company reported $0.73 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.06. Advanced Energy Industries had a net margin of 24.01% and a return on equity of 28.45%. The firm earned $118.80 million during the quarter, compared to analyst estimates of $111.52 million. During the same period last year, the business earned $0.43 earnings per share. The business’s revenue was up 9.3% on a year-over-year basis. Analysts expect that Advanced Energy Industries Inc. will post $2.73 earnings per share for the current year.
AEIS has been the subject of a number of recent research reports. Dougherty & Co boosted their price objective on Advanced Energy Industries from $38.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, July 28th. Zacks Investment Research lowered Advanced Energy Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Raymond James Financial Inc. lowered Advanced Energy Industries from an “outperform” rating to a “market perform” rating in a report on Thursday, July 14th. Finally, Citigroup Inc. lowered Advanced Energy Industries to a “market perform” rating in a report on Thursday, July 14th. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Advanced Energy Industries currently has a consensus rating of “Hold” and a consensus price target of $40.20.
About Advanced Energy Industries
Advanced Energy Industries, Inc provides precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions, used in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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