Corebridge Financial Inc. Trims Stock Position in AECOM (NYSE:ACM)

Corebridge Financial Inc. trimmed its position in AECOM (NYSE:ACM) by 4.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 151,699 shares of the construction company’s stock after selling 6,853 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of AECOM worth $16,204,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in AECOM by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,270,408 shares of the construction company’s stock valued at $233,918,000 after acquiring an additional 14,511 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of AECOM by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock valued at $205,429,000 after purchasing an additional 289,513 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of AECOM by 0.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 893,903 shares of the construction company’s stock worth $95,487,000 after purchasing an additional 6,513 shares during the period. AGF Management Ltd. grew its holdings in shares of AECOM by 0.7% during the 4th quarter. AGF Management Ltd. now owns 871,893 shares of the construction company’s stock worth $93,136,000 after purchasing an additional 5,660 shares during the period. Finally, JPMorgan Chase & Co. increased its position in shares of 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 during the last quarter. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ACM. Citigroup lowered 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. Barclays increased 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. KeyCorp dropped their target price on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Finally, Robert W. Baird decreased their price target on AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 4th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $120.38.

AECOM Stock Performance

Shares of ACM stock opened at $95.96 on Tuesday. The firm has a 50 day moving average of $101.53 and a two-hundred day moving average of $105.20. The stock has a market capitalization of $12.73 billion, a PE ratio of 27.26, a P/E/G ratio of 1.63 and a beta of 1.22. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. AECOM has a 52 week low of $82.23 and a 52 week high of $118.56.

AECOM (NYSE:ACM) last released its earnings results 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 return on equity of 26.84% and a net margin of 2.93%. On average, research analysts predict that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Dividend Announcement

The company 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 dividend of $0.26 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.08%. AECOM’s payout ratio is 29.55%.

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.