Bank of New York Mellon Corp Trims Position in AECOM (NYSE:ACM)

Bank of New York Mellon Corp lowered its stake in shares of AECOM (NYSE:ACM - Free Report) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,492,590 shares of the construction company's stock after selling 36,261 shares during the quarter. Bank of New York Mellon Corp owned about 1.13% of AECOM worth $159,438,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its stake 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 worth $233,918,000 after purchasing an additional 14,511 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position 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 worth $205,429,000 after buying an additional 289,513 shares during the period. JPMorgan Chase & Co. increased its stake in shares of AECOM by 40.1% in 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 in the last quarter. Citigroup Inc. increased its stake in shares of AECOM by 5.7% in the 3rd quarter. Citigroup Inc. now owns 585,174 shares of the construction company's stock worth $60,431,000 after acquiring an additional 31,299 shares in the last quarter. Finally, Swiss National Bank lifted its position in AECOM by 0.3% during the 3rd quarter. Swiss National Bank now owns 403,980 shares of the construction company's stock valued at $41,719,000 after acquiring an additional 1,300 shares during the period. 85.41% of the stock is owned by institutional investors.

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Analyst Ratings Changes

A number of brokerages have weighed in on ACM. The Goldman Sachs Group began coverage on shares of AECOM in a research note on Friday, November 22nd. They set a "buy" rating and a $130.00 target price for the company. Truist Financial lifted their price objective on AECOM from $119.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Barclays increased their target price on AECOM from $105.00 to $120.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Citigroup lowered their price target on AECOM from $128.00 to $127.00 and set a "buy" rating for the company in a research report on Wednesday, January 29th. Finally, Robert W. Baird cut their price objective on shares of AECOM from $125.00 to $117.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $120.38.

AECOM Stock Performance

Shares of ACM stock traded down $1.70 during trading hours on Tuesday, reaching $95.48. The company had a trading volume of 572,949 shares, compared to its average volume of 805,743. AECOM has a one year low of $82.23 and a one year high of $118.56. The firm has a market cap of $12.66 billion, a PE ratio of 27.09, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. 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 business has a fifty day moving average price of $105.16 and a 200-day moving average price of $105.51.

AECOM (NYSE:ACM - Get Free Report) last announced its 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%. Sell-side analysts predict that AECOM will post 5.1 earnings per share for the current fiscal year.

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 outstanding shares. This buyback authorization authorizes the construction company to purchase 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 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.