Quarry LP Buys Shares of 817 AECOM (NYSE:ACM)

Quarry LP purchased a new stake in AECOM (NYSE:ACM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 817 shares of the construction company’s stock, valued at approximately $84,000.

Other hedge funds have also modified their holdings of the company. Private Trust Co. NA acquired a new position in AECOM in the 3rd quarter valued at about $30,000. Family Firm Inc. purchased a new stake in shares of AECOM during the second quarter worth about $31,000. True Wealth Design LLC raised its position in shares of AECOM by 4,242.9% in the third quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after buying an additional 297 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of AECOM by 196.2% during the third quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock valued at $40,000 after buying an additional 257 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in AECOM during the third quarter worth approximately $50,000. 85.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the transaction, the chief financial officer now owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This trade 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 currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACM. Robert W. Baird boosted their price target on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. KeyCorp increased their target price on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. The Goldman Sachs Group started coverage on AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective for the company. Finally, Truist Financial lifted their target price on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $119.38.

AECOM Stock Down 0.4 %

Shares of AECOM stock opened at $113.75 on Monday. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The company has a market capitalization of $15.07 billion, a PE ratio of 38.43, a P/E/G ratio of 1.95 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50-day moving average of $109.15 and a 200-day moving average of $98.01.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share 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 firm had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $1.01 EPS. AECOM’s quarterly 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 fiscal year.

AECOM announced that its board has initiated a stock buyback plan on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

AECOM Increases Dividend

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

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.