Fifth Third Bancorp Lowers Stock Position in AECOM (NYSE:ACM)

Fifth Third Bancorp decreased its holdings in AECOM (NYSE:ACM) by 8.7% in the 4th quarter, Holdings Channel reports. The firm owned 1,664 shares of the construction company’s stock after selling 158 shares during the period. Fifth Third Bancorp’s holdings in AECOM were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of the business. Impact Partnership Wealth LLC acquired a new stake in shares of AECOM during the fourth quarter worth about $326,000. Magnus Financial Group LLC lifted its position in 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 acquiring an additional 2,348 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of AECOM by 23.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 72,577 shares of the construction company’s stock valued at $7,753,000 after purchasing an additional 13,648 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of AECOM by 3.6% in the fourth quarter. Ballentine Partners LLC now owns 4,137 shares of the construction company’s stock valued at $442,000 after purchasing an additional 145 shares during the period. Finally, Pure Financial Advisors LLC purchased a new stake in shares of AECOM during the fourth quarter worth approximately $223,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

AECOM Stock Performance

NYSE ACM opened at $105.57 on Friday. The business has a 50 day moving average price of $109.85 and a 200 day moving average price of $103.81. The company has a market capitalization of $14.00 billion, a P/E ratio of 35.67, a PEG ratio of 1.79 and a beta of 1.19. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13.

AECOM (NYSE:ACM) last released its quarterly 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. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The business’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.01 EPS. Sell-side analysts expect that AECOM will post 5.08 EPS for the current fiscal year.

AECOM Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.99%. This is a boost from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is 35.14%.

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

Wall Street Analyst Weigh In

ACM has been the topic of a number of analyst reports. Citigroup lowered their price objective on shares of AECOM from $128.00 to $127.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group began coverage on shares of AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 price target on the stock. Robert W. Baird increased their price target on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Finally, Truist Financial raised 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. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, AECOM presently has an average rating of “Buy” and a consensus price target of $119.13.

Insider Buying and Selling

In related news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value of $4,890,416.00. Following the completion of the transaction, the chief financial officer now 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

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.