Northern Trust Corp grew its holdings in Aegion Corp (NASDAQ:AEGN) by 31.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 860,285 shares of the construction company’s stock after purchasing an additional 203,912 shares during the period. Northern Trust Corp owned approximately 2.58% of Aegion Corp worth $18,823,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Aegion Corp in the first quarter valued at approximately $119,000. State of Alaska Department of Revenue increased its holdings in Aegion Corp by 76.6% during the 2nd quarter. State of Alaska Department of Revenue now owns 6,624 shares of the construction company’s stock worth $144,000 after acquiring an additional 2,874 shares during the period. RBF Capital LLC bought a new stake in Aegion Corp during the 1st quarter worth approximately $209,000. Municipal Employees Retirement System of Michigan increased its holdings in Aegion Corp by 45.7% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,280 shares of the construction company’s stock worth $246,000 after acquiring an additional 3,540 shares during the period. Finally, NGAM Advisors L.P. increased its holdings in Aegion Corp by 1.2% during the 2nd quarter. NGAM Advisors L.P. now owns 11,569 shares of the construction company’s stock worth $253,000 after acquiring an additional 140 shares during the period. 89.07% of the stock is currently owned by institutional investors.
In other news, CFO David A. Martin sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the sale, the chief financial officer now owns 101,430 shares of the company’s stock, valued at approximately $2,434,320. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.62% of the company’s stock.
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Shares of Aegion Corp (AEGN) traded down $0.30 during midday trading on Friday, reaching $26.89. 208,400 shares of the company’s stock traded hands, compared to its average volume of 208,803. The company has a quick ratio of 2.09, a current ratio of 2.36 and a debt-to-equity ratio of 0.65. Aegion Corp has a 1-year low of $19.11 and a 1-year high of $27.48. The company has a market cap of $884.40, a price-to-earnings ratio of 21.24, a PEG ratio of 2.02 and a beta of 1.68.
Aegion Corp (NASDAQ:AEGN) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.32 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.06. The company had revenue of $341.87 million during the quarter, compared to analyst estimates of $328.98 million. Aegion Corp had a negative net margin of 3.03% and a positive return on equity of 7.62%. Aegion Corp’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the business earned $0.32 EPS. research analysts expect that Aegion Corp will post 1.08 EPS for the current year.
Aegion Corp declared that its board has initiated a share repurchase program on Wednesday, November 1st that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the construction company to buy shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s management believes its stock is undervalued.
A number of equities analysts have recently commented on AEGN shares. BidaskClub lowered shares of Aegion Corp from a “buy” rating to a “hold” rating in a report on Thursday, July 27th. Sidoti lowered shares of Aegion Corp from a “buy” rating to a “neutral” rating in a report on Wednesday, August 2nd. TheStreet raised shares of Aegion Corp from a “c+” rating to a “b” rating in a report on Tuesday, August 1st. Canaccord Genuity upped their price objective on shares of Aegion Corp from $47.00 to $50.00 and gave the company a “buy” rating in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $23.50 price objective on shares of Aegion Corp in a research note on Monday, August 7th. Six research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Aegion Corp presently has a consensus rating of “Buy” and an average target price of $25.50.
Aegion Corp Profile
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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