The Vanguard Group Sold 2.9 Million AES Corporation Shares in Q1


May. 17 2018, Published 1:51 p.m. ET

AES Corporation

The Vanguard Group, the biggest institutional investor in AES Corporation (AES), sold net 2.9 million shares in the first quarter. As of March 31, it held 10.6% of AES’s total outstanding shares.

Fidelity Management added net 5.7 million shares in the first quarter, which raised its total stake in AES to 7%. State Street Global Advisers lowered its stake in AES to 4.8% during the quarter, selling 0.7 million shares.

Capital International Investors added 2.3 million AES shares, which took its total stake to 4.6% as of March 31. MFS Investment Management reduced its stake by 1.8 million shares, which took its total holdings to 2.7% as of March 31.

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AES in the first quarter

AES reported adjusted earnings of $0.28 per share in the first quarter and beat consensus estimates. In the same quarter last year, it reported earnings of $0.17 per share. The company’s total revenues in the quarter were $2.7 billion. Its revenue grew 6% year-over-year.

AES has a huge exposure to competitive operations and operates in multiple countries. Volatile exchange rate movements make its earnings less stable. So far this year, AES has rallied almost 13%, notably outperforming the broader utilities (XLU).


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