Bank of Montreal Can Increases Position in AECOM (NYSE:ACM)

Bank of Montreal Can boosted its position in AECOM (NYSE:ACM) by 8.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 42,395 shares of the construction company’s stock after acquiring an additional 3,311 shares during the quarter. Bank of Montreal Can’s holdings in AECOM were worth $4,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Private Trust Co. NA purchased a new position in shares of AECOM during the 3rd quarter valued at about $30,000. Loomis Sayles & Co. L P raised its stake in shares of AECOM by 0.4% during the third quarter. Loomis Sayles & Co. L P now owns 163,501 shares of the construction company’s stock worth $16,885,000 after acquiring an additional 601 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in shares of AECOM in the 3rd quarter worth approximately $1,362,000. Daiwa Securities Group Inc. boosted its stake in shares of AECOM by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 40,400 shares of the construction company’s stock valued at $4,172,000 after purchasing an additional 2,200 shares in the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of AECOM by 79.3% during the 3rd quarter. Cerity Partners LLC now owns 25,348 shares of the construction company’s stock valued at $2,618,000 after purchasing an additional 11,209 shares during the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ACM has been the subject of several analyst reports. Citigroup upped their price target on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Barclays lifted their price target on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. KeyCorp increased 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. Finally, Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $119.38.

Insider Buying and Selling

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value of $4,890,416.00. Following the sale, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is owned by insiders.

AECOM Stock Performance

NYSE:ACM opened at $114.66 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The firm’s fifty day simple moving average is $108.44 and its 200 day simple moving average is $97.49. The stock has a market cap of $15.19 billion, a P/E ratio of 38.74, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56.

AECOM (NYSE:ACM) 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 company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the company earned $1.01 earnings per share. AECOM’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts predict that AECOM will post 5.1 EPS for the current year.

AECOM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be given a dividend of $0.26 per share. The ex-dividend date is Thursday, January 2nd. This is a positive change from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.91%. AECOM’s payout ratio is currently 29.73%.

AECOM declared that its board has authorized a share buyback plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.