Advisors Asset Management Inc. Grows Stock Holdings in AECOM (NYSE:ACM)

Advisors Asset Management Inc. grew its holdings in shares of AECOM (NYSE:ACM) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,390 shares of the construction company’s stock after purchasing an additional 1,867 shares during the quarter. Advisors Asset Management Inc.’s holdings in AECOM were worth $4,171,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ACM. EntryPoint Capital LLC purchased a new position in AECOM during the first quarter worth about $25,000. Family Firm Inc. acquired a new position in shares of AECOM during the 2nd quarter valued at about $31,000. UMB Bank n.a. lifted its holdings in shares of AECOM by 196.2% during the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after acquiring an additional 257 shares during the period. Versant Capital Management Inc lifted its holdings in shares of AECOM by 4,375.0% during the 2nd quarter. Versant Capital Management Inc now owns 537 shares of the construction company’s stock worth $47,000 after acquiring an additional 525 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of AECOM in the third quarter worth approximately $50,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

AECOM Stock Performance

Shares of NYSE:ACM opened at $116.30 on Friday. The business’s 50-day simple moving average is $105.79 and its 200 day simple moving average is $96.06. The company has a market cap of $15.59 billion, a P/E ratio of 39.29, a PEG ratio of 1.64 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13. AECOM has a one year low of $82.23 and a one year high of $116.76.

AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.28%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share. On average, sell-side analysts forecast that AECOM will post 4.95 earnings per share for the current fiscal year.

AECOM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. This is a positive change from AECOM’s previous quarterly dividend of $0.22. AECOM’s payout ratio is currently 29.73%.

AECOM declared that its Board of Directors has approved a stock repurchase program on Monday, November 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

ACM has been the subject of several research analyst reports. Truist Financial upped their price target on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday. Citigroup upped their price objective on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Barclays upped their price target on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Finally, The Goldman Sachs Group began coverage on AECOM in a research note on Friday. They issued a “buy” rating and a $130.00 price objective on the stock. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $119.38.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total value of $4,890,416.00. Following the transaction, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.42% of the stock is currently owned by corporate insiders.

About AECOM

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.