Aegion Corp (NASDAQ:AEGN) CFO David A. Martin sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the sale, the chief financial officer now directly owns 101,430 shares in the company, valued at $2,434,320. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Aegion Corp (NASDAQ:AEGN) opened at $26.79 on Wednesday. The firm has a market cap of $876.92, a price-to-earnings ratio of 21.06, a P/E/G ratio of 2.01 and a beta of 1.68. The company has a debt-to-equity ratio of 0.65, a quick ratio of 2.09 and a current ratio of 2.36. Aegion Corp has a 52 week low of $19.11 and a 52 week high of $27.48.
Aegion Corp (NASDAQ:AEGN) last issued its quarterly earnings results on Wednesday, November 1st. The construction company reported $0.32 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.06. The firm had revenue of $341.87 million during the quarter, compared to analysts’ expectations 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 quarter in the prior year, the business earned $0.32 EPS. analysts forecast that Aegion Corp will post 1.08 earnings per share for the current year.
Aegion Corp declared that its Board of Directors has approved a share buyback program on Wednesday, November 1st that permits the company to buyback $40.00 million in shares. This buyback authorization permits the construction company to buy shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.
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Several equities research analysts recently weighed in on AEGN shares. TheStreet raised shares of Aegion Corp from a “c+” rating to a “b” rating in a research note on Tuesday, August 1st. Canaccord Genuity reaffirmed a “buy” rating and set a $26.00 target price on shares of Aegion Corp in a research note on Thursday, August 10th. BidaskClub raised shares of Aegion Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. ValuEngine upgraded shares of Aegion Corp from a “hold” rating to a “buy” rating in a report on Tuesday, September 12th. Finally, Hilliard Lyons upgraded shares of Aegion Corp from a “neutral” rating to a “buy” rating and set a $26.00 price target for the company in a report on Wednesday, October 4th. 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. The company has an average rating of “Buy” and an average price target of $25.50.
A number of institutional investors have recently made changes to their positions in the business. Royce & Associates LP raised its position in Aegion Corp by 9.3% during the 3rd quarter. Royce & Associates LP now owns 959,893 shares of the construction company’s stock worth $22,346,000 after buying an additional 82,000 shares during the last quarter. Schwab Charles Investment Management Inc. raised its position in Aegion Corp by 6.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 296,646 shares of the construction company’s stock worth $6,906,000 after buying an additional 18,468 shares during the last quarter. Wells Fargo & Company MN raised its position in Aegion Corp by 8.0% during the 3rd quarter. Wells Fargo & Company MN now owns 30,568 shares of the construction company’s stock worth $712,000 after buying an additional 2,272 shares during the last quarter. Nordea Investment Management AB raised its position in Aegion Corp by 1.1% during the 3rd quarter. Nordea Investment Management AB now owns 252,370 shares of the construction company’s stock worth $5,875,000 after buying an additional 2,800 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new position in Aegion Corp during the 3rd quarter worth $310,000. Institutional investors own 90.08% of the company’s stock.
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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