Robert W. Baird Issues Positive Forecast for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its target price increased by Robert W. Baird from $113.00 to $122.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the construction company’s stock.

A number of other equities research analysts also recently weighed in on ACM. Citigroup raised their price target on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada raised their price objective on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. KeyCorp raised their price objective on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial raised their price objective on AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $119.38.

AECOM Stock Up 3.3 %

Shares of AECOM stock opened at $116.30 on Tuesday. The stock has a 50-day moving average price of $105.79 and a 200 day moving average price of $96.06. The company has a market cap of $15.59 billion, a P/E ratio of 38.35, a P/E/G ratio of 1.64 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. AECOM has a 1 year low of $82.23 and a 1 year high of $116.76.

AECOM (NYSE:ACM) last posted its quarterly 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. AECOM had a return on equity of 25.28% and a net margin of 2.50%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business earned $1.01 EPS. The business’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, analysts expect that AECOM will post 4.95 EPS for the current fiscal year.

AECOM Increases Dividend

The firm also recently announced 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 dividend payout ratio (DPR) is 29.73%.

AECOM announced that its board has initiated a share buyback plan on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of AECOM 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 sale, the chief financial officer now owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

Institutional Trading of AECOM

Institutional investors have recently modified their holdings of the company. Mackenzie Financial Corp grew its holdings in shares of AECOM by 12.5% during the 2nd quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,180 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in AECOM in the 1st quarter valued at $1,085,000. Plato Investment Management Ltd acquired a new stake in AECOM in the 1st quarter valued at $741,000. Price T Rowe Associates Inc. MD boosted its stake in AECOM by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock valued at $8,564,000 after buying an additional 6,003 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in AECOM by 24.3% in the 2nd quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock valued at $17,917,000 after buying an additional 39,801 shares in the last quarter. Institutional investors and hedge funds own 85.41% 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.