AECOM (NYSE:ACM) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA decreased its holdings in AECOM (NYSE:ACM) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,381,582 shares of the construction company’s stock after selling 1,129,625 shares during the quarter. Primecap Management Co. CA owned 8.58% of AECOM worth $1,215,781,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ACM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in AECOM by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock worth $205,429,000 after purchasing an additional 289,513 shares during the period. National Bank of Canada FI boosted its stake in AECOM by 1,847.8% in the 3rd quarter. National Bank of Canada FI now owns 274,857 shares of the construction company’s stock worth $28,384,000 after purchasing an additional 260,746 shares during the period. JPMorgan Chase & Co. boosted its stake in AECOM by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after purchasing an additional 220,035 shares during the period. Verition Fund Management LLC boosted its stake in AECOM by 293.7% in the 3rd quarter. Verition Fund Management LLC now owns 180,602 shares of the construction company’s stock worth $18,651,000 after purchasing an additional 134,730 shares during the period. Finally, Flputnam Investment Management Co. boosted its stake in AECOM by 88.8% in the 4th quarter. Flputnam Investment Management Co. now owns 272,888 shares of the construction company’s stock worth $29,150,000 after purchasing an additional 128,346 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.

AECOM Stock Up 0.7 %

Shares of ACM opened at $95.75 on Tuesday. The company has a 50-day simple moving average of $102.72 and a 200-day simple moving average of $105.30. The firm has a market capitalization of $12.70 billion, a P/E ratio of 27.20, a P/E/G ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. AECOM has a 52 week low of $82.23 and a 52 week high of $118.56.

AECOM (NYSE:ACM) last posted its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. On average, equities research analysts expect that AECOM will post 5.1 earnings per share for the current year.

AECOM Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be paid a dividend of $0.26 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.04 annualized dividend and a yield of 1.09%. AECOM’s dividend payout ratio is 29.55%.

AECOM announced that its Board of Directors has authorized a stock buyback program on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ACM. Barclays lifted their target price on shares of AECOM from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. The Goldman Sachs Group initiated coverage on shares of AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 price objective for the company. Truist Financial upped their price objective on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Citigroup decreased their price objective on shares of AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Finally, KeyCorp cut their target price on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $120.38.

AECOM Company Profile

AECOM, together with its subsidiaries, provides professional infrastructure consulting services worldwide. It operates in three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to public and private clients.