HighTower Advisors LLC lowered its holdings in AECOM (NYSE:ACM – Free Report) by 1.1% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,594 shares of the construction company’s stock after selling 125 shares during the period. HighTower Advisors LLC’s holdings in AECOM were worth $1,197,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of ACM. International Assets Investment Management LLC bought a new stake in AECOM in the 3rd quarter valued at about $42,201,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of AECOM by 67.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock worth $71,897,000 after acquiring an additional 326,423 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AECOM by 17.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock worth $205,429,000 after acquiring an additional 289,513 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of AECOM by 18.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock worth $143,573,000 after acquiring an additional 258,250 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in shares of AECOM by 15.5% during the 2nd quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock worth $154,464,000 after acquiring an additional 235,350 shares during the period. Institutional investors own 85.41% of the company’s stock.
Insider Buying and Selling at AECOM
In other news, CFO Gaurav Kapoor sold 42,400 shares of the 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 sale, the chief financial officer now directly owns 31,228 shares in the company, valued at $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.
AECOM Trading Down 0.7 %
AECOM (NYSE:ACM – Get Free Report) last announced its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the company posted $1.01 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities analysts forecast that AECOM will post 5.1 EPS for the current year.
AECOM announced that its board has authorized a stock buyback program on Monday, November 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
AECOM Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be given a $0.26 dividend. This is a boost from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio is 35.14%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on ACM. Truist Financial upped their price target on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Robert W. Baird upped 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. The Goldman Sachs Group initiated coverage on shares of AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Finally, Citigroup upped their price objective on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $119.38.
Check Out Our Latest Report on AECOM
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.
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