Legato Capital Management LLC Increases Stake in Advanced Energy Industries, Inc. (NASDAQ:AEIS)

Legato Capital Management LLC grew its stake in shares of Advanced Energy Industries, Inc. (NASDAQ:AEIS) by 59.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 22,408 shares of the electronics maker’s stock after purchasing an additional 8,379 shares during the quarter. Legato Capital Management LLC owned approximately 0.06% of Advanced Energy Industries worth $2,591,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Fort Washington Investment Advisors Inc. OH raised its holdings in Advanced Energy Industries by 10.2% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 139,556 shares of the electronics maker’s stock valued at $16,137,000 after buying an additional 12,860 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Advanced Energy Industries by 3.6% during the third quarter. Pinnacle Associates Ltd. now owns 176,683 shares of the electronics maker’s stock valued at $19,244,000 after acquiring an additional 6,217 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Advanced Energy Industries by 12.4% during the third quarter. Principal Financial Group Inc. now owns 483,848 shares of the electronics maker’s stock worth $50,920,000 after purchasing an additional 53,566 shares during the period. MQS Management LLC bought a new stake in shares of Advanced Energy Industries in the third quarter worth about $664,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Advanced Energy Industries during the 3rd quarter valued at about $12,306,000. Institutional investors own 99.67% of the company’s stock.

Advanced Energy Industries Stock Performance

Shares of Advanced Energy Industries stock opened at $111.36 on Wednesday. The firm’s 50-day moving average is $117.26 and its 200 day moving average is $110.40. Advanced Energy Industries, Inc. has a 1 year low of $89.11 and a 1 year high of $130.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 4.62 and a quick ratio of 3.32. The stock has a market cap of $4.20 billion, a price-to-earnings ratio of 97.69, a PEG ratio of 3.60 and a beta of 1.45.

Advanced Energy Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Investors of record on Monday, February 24th will be given a $0.10 dividend. This represents a $0.40 annualized dividend and a yield of 0.36%. Advanced Energy Industries’s dividend payout ratio (DPR) is presently 35.09%.

Insider Activity at Advanced Energy Industries

In related news, Director Lanesha Minnix sold 1,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $111.72, for a total transaction of $111,720.00. Following the transaction, the director now owns 5,092 shares in the company, valued at $568,878.24. This represents a 16.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.87% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on AEIS shares. TD Cowen decreased their target price on Advanced Energy Industries from $120.00 to $118.00 and set a “hold” rating for the company in a report on Thursday, October 31st. Bank of America upgraded Advanced Energy Industries from a “neutral” rating to a “buy” rating and set a $140.00 price target on the stock in a research report on Monday, December 16th. StockNews.com upgraded Advanced Energy Industries from a “sell” rating to a “hold” rating in a report on Monday, November 4th. Benchmark reaffirmed a “buy” rating and issued a $125.00 target price on shares of Advanced Energy Industries in a research report on Wednesday, November 20th. Finally, Citigroup raised shares of Advanced Energy Industries from a “neutral” rating to a “buy” rating and lifted their price target for the company from $110.00 to $138.00 in a research report on Monday, January 6th. Four investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Advanced Energy Industries has a consensus rating of “Moderate Buy” and a consensus target price of $126.89.

Advanced Energy Industries Company Profile

Advanced Energy Industries, Inc provides precision power conversion, measurement, and control solutions in the United States and internationally. The company's plasma power products offer solutions to enable innovation for semiconductor and thin film plasma processes, such as dry etch and deposition.