King Luther Capital Management Corp Reduces Holdings in AECOM (NYSE:ACM)

King Luther Capital Management Corp lowered its position in shares of AECOM (NYSE:ACM) by 11.7% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,340 shares of the construction company’s stock after selling 4,816 shares during the period. King Luther Capital Management Corp’s holdings in AECOM were worth $3,882,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ACM. Ranch Capital Advisors Inc. increased its stake in shares of AECOM by 2.3% in the fourth quarter. Ranch Capital Advisors Inc. now owns 4,482 shares of the construction company’s stock worth $479,000 after buying an additional 99 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of AECOM by 50.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 60,900 shares of the construction company’s stock worth $6,505,000 after buying an additional 20,500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of AECOM by 4.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,023 shares of the construction company’s stock worth $8,228,000 after buying an additional 3,075 shares during the last quarter. AlphaQuest LLC increased its stake in shares of AECOM by 401.9% in the fourth quarter. AlphaQuest LLC now owns 33,047 shares of the construction company’s stock worth $3,530,000 after buying an additional 26,462 shares during the last quarter. Finally, OFI Invest Asset Management bought a new stake in shares of AECOM in the fourth quarter worth $1,649,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

AECOM Stock Performance

Shares of ACM opened at $94.68 on Thursday. AECOM has a 1 year low of $82.23 and a 1 year high of $118.56. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 26.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. 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 firm has a fifty day moving average of $103.46 and a 200-day moving average of $105.38.

AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts anticipate that AECOM will post 5.1 earnings per share for the current year.

AECOM Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 1.10%. The ex-dividend date of this dividend is Wednesday, April 2nd. AECOM’s payout ratio is currently 29.55%.

AECOM announced that its board has authorized a stock repurchase program on Monday, November 18th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase programs are usually a sign 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.