Edgestream Partners L.P. Buys Shares of 37,749 AECOM (NYSE:ACM)

Edgestream Partners L.P. bought a new stake in shares of AECOM (NYSE:ACM) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 37,749 shares of the construction company’s stock, valued at approximately $4,032,000.

Other large investors have also recently bought and sold shares of the company. Magnus Financial Group LLC lifted its stake in shares of AECOM by 93.5% during the 4th quarter. Magnus Financial Group LLC now owns 4,860 shares of the construction company’s stock worth $519,000 after purchasing an additional 2,348 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of AECOM by 40.1% during 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. Sumitomo Mitsui Trust Group Inc. raised its position in shares of AECOM by 5.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock worth $26,714,000 after buying an additional 12,224 shares during the period. TT International Asset Management LTD purchased a new position in shares of AECOM in the 4th quarter worth $3,578,000. Finally, Park Avenue Securities LLC raised its position in shares of AECOM by 176.9% in the 4th quarter. Park Avenue Securities LLC now owns 7,239 shares of the construction company’s stock worth $773,000 after buying an additional 4,625 shares during the period. Institutional investors and hedge funds own 85.41% of the company’s stock.

AECOM Stock Up 0.3 %

NYSE:ACM opened at $97.02 on Friday. The company has a market capitalization of $12.87 billion, a price-to-earnings ratio of 27.56, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. AECOM has a one year low of $82.23 and a one year high of $118.56. The stock has a 50-day simple moving average of $104.17 and a 200 day simple moving average of $105.42. 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 (NYSE:ACM) last posted its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. AECOM had a return on equity of 26.84% and a net margin of 2.93%. Sell-side analysts predict that AECOM will post 5.1 EPS for the current fiscal year.

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

AECOM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.07%. AECOM’s dividend payout ratio is currently 29.55%.

Analysts Set New Price Targets

ACM has been the topic of several research reports. Barclays increased their target price on AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird lowered their price target on AECOM from $125.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Truist Financial increased their price target on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. The Goldman Sachs Group initiated coverage on AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 price target for the company. Finally, Citigroup lowered their price target on AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $120.38.

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.