Edgestream Partners L.P. Takes Position in AECOM (NYSE:ACM)

Edgestream Partners L.P. purchased a new stake in shares of AECOM (NYSE:ACM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 37,749 shares of the construction company’s stock, valued at approximately $4,032,000.

A number of other hedge funds also recently made changes to their positions in ACM. US Bancorp DE raised its holdings in AECOM by 4.4% during the third quarter. US Bancorp DE now owns 7,301 shares of the construction company’s stock worth $754,000 after purchasing an additional 310 shares in the last quarter. Stephens Inc. AR acquired a new position in AECOM in the third quarter worth approximately $238,000. Farther Finance Advisors LLC grew its position in AECOM by 54.8% in the third quarter. Farther Finance Advisors LLC now owns 853 shares of the construction company’s stock worth $88,000 after buying an additional 302 shares during the last quarter. QRG Capital Management Inc. acquired a new position in AECOM in the third quarter worth approximately $204,000. Finally, Capital Performance Advisors LLP acquired a new position in AECOM in the third quarter worth approximately $88,000. Institutional investors own 85.41% of the company’s stock.

Analysts Set New Price Targets

ACM has been the topic of several research analyst reports. Truist Financial lifted their price objective on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Barclays lifted their price objective on shares of AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Robert W. Baird lowered their price objective on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. The Goldman Sachs Group started coverage on shares of AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 target price for the company. Finally, Citigroup decreased 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. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $120.38.

AECOM Stock Performance

NYSE:ACM opened at $97.02 on Friday. The firm’s 50-day moving average is $104.17 and its 200-day moving average is $105.42. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The company has a market cap of $12.87 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 1.63 and a beta of 1.22.

AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. Equities research analysts anticipate that AECOM will post 5.1 earnings per share for the current year.

AECOM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd will be paid a $0.26 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.07%. AECOM’s payout ratio is currently 29.55%.

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

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.