AECOM (NYSE:ACM) Price Target Raised to $129.00

AECOM (NYSE:ACM) had its price target boosted by Truist Financial from $119.00 to $129.00 in a report released on Friday,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

A number of other analysts have also recently commented on the company. KeyCorp upped their price objective on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Royal Bank of Canada raised their price objective on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Citigroup upped their target price on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of AECOM in a research report on Friday. They issued a “buy” rating and a $130.00 price target on the stock. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $119.38.

AECOM Price Performance

ACM opened at $116.31 on Friday. The company’s 50-day simple moving average is $106.16 and its two-hundred day simple moving average is $96.22. AECOM has a 52-week low of $82.23 and a 52-week high of $116.76. The stock has a market capitalization 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 debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13.

AECOM (NYSE:ACM) last issued its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter last year, the company posted $1.01 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts predict that AECOM will post 5.1 EPS for the current year.

AECOM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be paid a dividend of $0.26 per share. This is a boost from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.89%. AECOM’s payout ratio is 35.14%.

AECOM announced that its board has approved a share buyback plan on Monday, November 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at AECOM

In related news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the transaction, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Institutional Trading of AECOM

Several hedge funds have recently bought and sold shares of the stock. PNC Financial Services Group Inc. increased its stake in AECOM by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock worth $977,000 after acquiring an additional 103 shares during the last quarter. CreativeOne Wealth LLC increased its position in 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 during the period. Fifth Third Bancorp boosted its stake in shares of AECOM by 6.7% during the second 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 boosted its position in AECOM by 3.5% during 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. raised its position in shares of AECOM by 4.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock worth $273,000 after acquiring an additional 138 shares in the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.

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.