Nordea Investment Management AB Sells 68,902 Shares of AECOM (NYSE:ACM)

Nordea Investment Management AB lessened its holdings in AECOM (NYSE:ACM) by 32.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 142,531 shares of the construction company’s stock after selling 68,902 shares during the quarter. Nordea Investment Management AB’s holdings in AECOM were worth $15,281,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Mackenzie Financial Corp boosted its stake in AECOM by 12.5% in the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock valued at $936,000 after acquiring an additional 1,180 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of AECOM by 5.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock worth $26,714,000 after purchasing an additional 12,224 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AECOM by 40.1% during the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after purchasing an additional 220,035 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in AECOM by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,051 shares of the construction company’s stock valued at $2,296,000 after purchasing an additional 9,815 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in AECOM in the third quarter valued at about $495,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

Insider Activity at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated 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 directly owns 31,228 shares in the company, valued at $3,601,837.52. This represents a 57.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.42% of the stock is owned by insiders.

AECOM Price Performance

ACM stock opened at $107.18 on Thursday. The stock has a 50-day moving average price of $110.69 and a two-hundred day moving average price of $101.36. AECOM has a 1 year low of $82.23 and a 1 year high of $118.56. The stock has a market cap of $14.20 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03.

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

AECOM declared that its Board of Directors has approved a stock repurchase plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board 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. This is a boost from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. This represents a $1.04 annualized dividend and a yield of 0.97%. AECOM’s dividend payout ratio is presently 35.14%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ACM. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Citigroup boosted their price objective on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. KeyCorp reduced their price target on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, Truist Financial upped their price objective on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $119.25.

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.