Sumitomo Mitsui Trust Group Inc. Purchases 8,586 Shares of AECOM (NYSE:ACM)

Sumitomo Mitsui Trust Group Inc. raised its stake in AECOM (NYSE:ACM - Free Report) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 267,266 shares of the construction company's stock after purchasing an additional 8,586 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.20% of AECOM worth $28,549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Geode Capital Management LLC lifted its holdings in shares of AECOM by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 2,270,408 shares of the construction company's stock worth $233,918,000 after acquiring an additional 14,511 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AECOM by 17.0% during 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 worth $205,429,000 after acquiring an additional 289,513 shares during the period. JPMorgan Chase & Co. lifted its holdings 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 acquiring an additional 220,035 shares during the period. Citigroup Inc. increased its position in shares of AECOM by 5.7% during the 3rd quarter. Citigroup Inc. now owns 585,174 shares of the construction company's stock worth $60,431,000 after purchasing an additional 31,299 shares in the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of AECOM during the 3rd quarter worth about $42,201,000. 85.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ACM has been the subject of a number of recent analyst reports. Citigroup dropped their target price on shares of AECOM from $128.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Truist Financial increased their target price 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. Robert W. Baird dropped their target price on shares of AECOM from $125.00 to $117.00 and set an "outperform" rating for the company in a research report on Tuesday, February 4th. Barclays increased their target price 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. Finally, The Goldman Sachs Group initiated coverage on shares of AECOM in a research report on Friday, November 22nd. They set a "buy" rating and a $130.00 target price for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $120.38.

AECOM Trading Down 1.8 %

AECOM stock traded down $1.85 during midday trading on Friday, hitting $100.34. 1,246,957 shares of the stock were exchanged, compared to its average volume of 1,062,723. The company has a fifty day simple moving average of $107.69 and a two-hundred day simple moving average of $104.97. AECOM has a 52 week low of $82.23 and a 52 week high of $118.56. The stock has a market capitalization of $13.31 billion, a PE ratio of 28.51, a P/E/G ratio of 1.81 and a beta of 1.19. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

AECOM (NYSE:ACM - Get Free Report) last announced its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share for the quarter, beating analysts' consensus estimates 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 EPS for the current fiscal year.

AECOM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 17th. Investors of record on Thursday, January 2nd were issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.04%. This is an increase from AECOM's previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Thursday, January 2nd. AECOM's payout ratio is presently 29.55%.

AECOM declared that its Board of Directors has authorized a share buyback program on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

AECOM 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.