Bank of America Corp DE boosted its position in shares of Aegion Corp (NASDAQ:AEGN) by 58.1% during the first quarter, Holdings Channel reports. The fund owned 67,634 shares of the construction company’s stock after buying an additional 24,854 shares during the period. Bank of America Corp DE’s holdings in Aegion Corp were worth $1,549,000 at the end of the most recent quarter.
A number of other institutional investors have also recently modified their holdings of AEGN. BlackRock Inc. raised its position in shares of Aegion Corp by 12,966.0% in the first quarter. BlackRock Inc. now owns 4,365,349 shares of the construction company’s stock worth $100,010,000 after buying an additional 4,331,939 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Aegion Corp by 4.4% in the first quarter. Vanguard Group Inc. now owns 3,050,397 shares of the construction company’s stock worth $69,885,000 after buying an additional 128,485 shares during the last quarter. Royce & Associates LP raised its position in shares of Aegion Corp by 0.4% in the first quarter. Royce & Associates LP now owns 858,446 shares of the construction company’s stock worth $19,667,000 after buying an additional 3,748 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Aegion Corp by 6.6% in the first quarter. Renaissance Technologies LLC now owns 560,096 shares of the construction company’s stock worth $12,832,000 after buying an additional 34,596 shares during the last quarter. Finally, Tocqueville Asset Management L.P. raised its position in shares of Aegion Corp by 23.3% in the first quarter. Tocqueville Asset Management L.P. now owns 367,025 shares of the construction company’s stock worth $8,409,000 after buying an additional 69,475 shares during the last quarter. 90.87% of the stock is owned by hedge funds and other institutional investors.
Aegion Corp (AEGN) traded up 0.05% during midday trading on Wednesday, hitting $20.63. The stock had a trading volume of 17,707 shares. Aegion Corp has a one year low of $17.18 and a one year high of $26.68. The stock’s 50-day moving average is $22.24 and its 200-day moving average is $21.96. The company has a market cap of $650.84 million, a P/E ratio of 15.23 and a beta of 1.67.
Aegion Corp (NASDAQ:AEGN) last released its earnings results on Tuesday, August 1st. The construction company reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by $0.08. Aegion Corp had a return on equity of 7.52% and a net margin of 3.57%. The business had revenue of $354.47 million for the quarter, compared to analyst estimates of $351.51 million. During the same period in the prior year, the firm posted $0.23 EPS. Aegion Corp’s revenue was up 18.9% on a year-over-year basis. Equities analysts predict that Aegion Corp will post $1.19 EPS for the current fiscal year.
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AEGN has been the subject of a number of research reports. BidaskClub raised Aegion Corp from a “sell” rating to a “hold” rating in a research note on Saturday, July 8th. Canaccord Genuity reaffirmed a “buy” rating and set a $26.00 price target on shares of Aegion Corp in a research note on Thursday, August 10th. Hilliard Lyons lowered Aegion Corp from a “buy” rating to a “neutral” rating in a research note on Monday, May 1st. TheStreet lowered Aegion Corp from a “b” rating to a “c” rating in a research note on Monday, June 5th. Finally, Zacks Investment Research raised Aegion Corp from a “strong sell” rating to a “hold” rating in a research note on Wednesday, May 10th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $23.17.
About Aegion Corp
Aegion Corporation (Aegion) is engaged in providing infrastructure protection and maintenance. The Company operates through three segments: Infrastructure Solutions, Corrosion Protection and Energy Services. The Company offers service solutions, including rehabilitation of water and wastewater pipelines with Insituform cured-in-place pipe (CIPP) products; fusible polyvinyl chloride products for rehabilitation; fiber reinforced polymer systems for rehabilitation and strengthening; cathodic protection for corrosion engineering control and infrastructure rehabilitation; pipe coatings for corrosion control and prevention; high density polyethylene (HDPE) pipe lining for corrosion control, abrasion protection and pipeline rehabilitation, and construction and maintenance of oil and gas facilities.
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