Boston Partners lifted its stake in Alliant Energy Co. (NYSE:LNT) by 8.7% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,165,898 shares of the utilities provider’s stock after purchasing an additional 93,520 shares during the quarter. Boston Partners owned 0.49% of Alliant Energy worth $57,225,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of LNT. Private Capital Group LLC lifted its position in shares of Alliant Energy by 367.7% in the second quarter. Private Capital Group LLC now owns 580 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 456 shares in the last quarter. NumerixS Investment Technologies Inc acquired a new position in Alliant Energy in the second quarter worth approximately $29,000. Personal Wealth Partners acquired a new position in Alliant Energy in the second quarter worth approximately $31,000. Advisory Services Network LLC increased its holdings in Alliant Energy by 354.1% in the second quarter. Advisory Services Network LLC now owns 722 shares of the utilities provider’s stock worth $35,000 after buying an additional 563 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its holdings in Alliant Energy by 583.3% in the second quarter. Meeder Asset Management Inc. now owns 779 shares of the utilities provider’s stock worth $38,000 after buying an additional 665 shares during the last quarter. 71.12% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on LNT. Bank of America upgraded Alliant Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $50.00 to $54.00 in a report on Wednesday, June 26th. Argus restated a “buy” rating and issued a $52.00 price objective on shares of Alliant Energy in a report on Wednesday, June 5th. Finally, UBS Group increased their price objective on Alliant Energy from $49.00 to $53.00 and gave the stock a “neutral” rating in a report on Friday, September 6th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $50.36.
Alliant Energy (NYSE:LNT) last announced its quarterly earnings results on Thursday, August 1st. The utilities provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.04). Alliant Energy had a net margin of 15.09% and a return on equity of 11.69%. The company had revenue of $790.20 million for the quarter, compared to analyst estimates of $828.79 million. During the same quarter last year, the business earned $0.43 EPS. The company’s revenue for the quarter was down 3.2% on a year-over-year basis. Equities research analysts forecast that Alliant Energy Co. will post 2.15 EPS for the current year.
In related news, SVP Leon David A. De acquired 941 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $53.15 per share, for a total transaction of $50,014.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James H. Gallegos sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $52.29, for a total transaction of $261,450.00. The disclosure for this sale can be found here. Company insiders own 0.25% of the company’s stock.
About Alliant Energy
Alliant Energy Corporation operates as a utility holding company that provides regulated electricity and natural gas services in the Midwest region of the United States. It operates through three segments: Electric, Gas, and Other. The company, through its subsidiary, Interstate Power and Light Company (IPL), primarily generates and distributes electricity, and distributes and transports natural gas to retail customers in Iowa; sells electricity to wholesale customers in Minnesota, Illinois, and Iowa; and generates and distributes steam in Cedar Rapids, Iowa.
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