Everence Capital Management Inc. purchased a new position in Advanced Energy Industries, Inc. (NASDAQ:AEIS) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 2,880 shares of the electronics maker’s stock, valued at approximately $233,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in Advanced Energy Industries by 3.1% in the 2nd quarter. BlackRock Inc. now owns 5,127,265 shares of the electronics maker’s stock worth $331,682,000 after acquiring an additional 155,880 shares during the period. Vanguard Group Inc. boosted its holdings in Advanced Energy Industries by 3.9% in the 1st quarter. Vanguard Group Inc. now owns 3,757,244 shares of the electronics maker’s stock worth $257,596,000 after acquiring an additional 141,520 shares during the period. State Street Corp boosted its holdings in Advanced Energy Industries by 4.1% in the 2nd quarter. State Street Corp now owns 1,019,290 shares of the electronics maker’s stock worth $65,937,000 after acquiring an additional 40,286 shares during the period. Northern Trust Corp boosted its holdings in Advanced Energy Industries by 2.7% in the 2nd quarter. Northern Trust Corp now owns 897,325 shares of the electronics maker’s stock worth $58,049,000 after acquiring an additional 24,006 shares during the period. Finally, Victory Capital Management Inc. raised its position in shares of Advanced Energy Industries by 204.6% in the 3rd quarter. Victory Capital Management Inc. now owns 775,433 shares of the electronics maker’s stock valued at $62,623,000 after purchasing an additional 520,884 shares in the last quarter. Hedge funds and other institutional investors own 91.90% of the company’s stock.
Advanced Energy Industries (NASDAQ:AEIS) last posted its earnings results on Monday, October 30th. The electronics maker reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.02. The business had revenue of $176.60 million during the quarter, compared to the consensus estimate of $165.77 million. Advanced Energy Industries had a return on equity of 35.56% and a net margin of 33.76%. Advanced Energy Industries’s revenue was up 39.5% on a year-over-year basis. During the same quarter last year, the company earned $0.77 EPS.
In other Advanced Energy Industries news, CFO Thomas Liguori sold 16,000 shares of Advanced Energy Industries stock in a transaction on Monday, September 11th. The stock was sold at an average price of $73.64, for a total value of $1,178,240.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yuval Wasserman sold 10,669 shares of Advanced Energy Industries stock in a transaction on Wednesday, October 18th. The shares were sold at an average price of $90.00, for a total value of $960,210.00. Following the completion of the transaction, the chief executive officer now owns 130,259 shares of the company’s stock, valued at approximately $11,723,310. The disclosure for this sale can be found here. Insiders have sold a total of 61,413 shares of company stock valued at $4,975,307 in the last 90 days. 1.13% of the stock is owned by corporate insiders.
A number of equities analysts have issued reports on the company. Needham & Company LLC upped their target price on Advanced Energy Industries from $93.00 to $97.00 and gave the company a “buy” rating in a research report on Tuesday. BidaskClub raised Advanced Energy Industries from a “hold” rating to a “buy” rating in a research report on Monday, July 24th. Stifel Nicolaus assumed coverage on Advanced Energy Industries in a research report on Wednesday, August 23rd. They issued a “hold” rating and a $74.00 target price on the stock. ValuEngine lowered Advanced Energy Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Advanced Energy Industries in a research report on Sunday, October 15th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $78.00.
Advanced Energy Industries Profile
Advanced Energy Industries, Inc is a provider of engineered, precision power conversion, measurement and control solutions. The Company is engaged in designing, manufacturing, selling and supporting its power conversion products and solutions that transform power into various forms in various applications ranging from manufacturing and industrial processes to instrumentation, and test and measurement.
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