Citigroup Inc. Acquires 31,299 Shares of AECOM (NYSE:ACM)

Citigroup Inc. increased its holdings in shares of AECOM (NYSE:ACM) by 5.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 585,174 shares of the construction company’s stock after purchasing an additional 31,299 shares during the period. Citigroup Inc. owned approximately 0.44% of AECOM worth $60,431,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of AECOM by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after purchasing an additional 103 shares in the last quarter. CreativeOne Wealth LLC lifted its holdings in shares of AECOM by 3.4% during the 1st quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock valued at $336,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of AECOM by 6.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock valued at $159,000 after purchasing an additional 114 shares in the last quarter. CIBC Asset Management Inc lifted its stake in AECOM by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after acquiring an additional 132 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in AECOM by 4.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after acquiring an additional 138 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.

AECOM Trading Up 3.3 %

Shares of AECOM stock opened at $116.31 on Friday. AECOM has a 12-month low of $82.23 and a 12-month high of $116.76. The stock has a market cap of $15.41 billion, a P/E ratio of 39.29, a P/E/G ratio of 1.91 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $106.16 and its 200-day moving average is $96.20.

AECOM (NYSE:ACM) last posted its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.01 EPS. Equities research analysts predict that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM declared that its Board of Directors has approved a share repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

AECOM Increases Dividend

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

Insider Buying and Selling

In related news, CFO Gaurav Kapoor sold 42,400 shares of the business’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 transaction 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 approximately $3,601,837.52. The trade was a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is owned by insiders.

Analysts Set New Price Targets

ACM has been the topic of several research reports. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Robert W. Baird boosted their target price on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Royal Bank of Canada boosted their target price on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Citigroup boosted their target price on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Truist Financial boosted their target price on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $119.38.

AECOM 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.