Robert W. Baird Cuts AECOM (NYSE:ACM) Price Target to $117.00

AECOM (NYSE:ACM) had its target price cut by Robert W. Baird from $125.00 to $117.00 in a research note published on Tuesday morning,Benzinga reports. They currently have an outperform rating on the construction company’s stock.

ACM has been the topic of a number of other research reports. The Goldman Sachs Group began coverage on AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price on the stock. Truist Financial raised their price objective on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup reduced their target price on shares of AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Finally, KeyCorp reduced their price objective on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Nine 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 $120.38.

AECOM Price Performance

Shares of ACM opened at $108.12 on Tuesday. The stock has a market cap of $14.34 billion, a P/E ratio of 36.53, a P/E/G ratio of 1.80 and a beta of 1.19. The business’s fifty day moving average is $109.11 and its 200 day moving average is $104.20. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.21. AECOM had a net margin of 2.50% and a return on equity of 25.46%. Sell-side analysts anticipate that AECOM will post 5.08 earnings per share for the current fiscal year.

AECOM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd were given a $0.26 dividend. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date of this dividend was Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is currently 35.14%.

AECOM announced that its board has initiated a stock repurchase 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 buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ACM. Magnus Financial Group LLC lifted its position in shares of AECOM by 93.5% during the fourth 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 in the last quarter. JPMorgan Chase & Co. lifted its holdings in AECOM by 40.1% during the 3rd 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 in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in 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 period. TT International Asset Management LTD purchased a new position in AECOM during the 4th quarter valued at about $3,578,000. Finally, Park Avenue Securities LLC increased its position in shares of AECOM by 176.9% during the fourth quarter. Park Avenue Securities LLC now owns 7,239 shares of the construction company’s stock valued at $773,000 after buying an additional 4,625 shares during the period. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

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.