Bank of Nova Scotia Buys 21,419 Shares of AECOM (NYSE:ACM)

Bank of Nova Scotia raised its stake in shares of AECOM (NYSE:ACM - Free Report) by 324.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,014 shares of the construction company's stock after buying an additional 21,419 shares during the quarter. Bank of Nova Scotia's holdings in AECOM were worth $2,992,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Stifel Financial Corp increased its holdings in shares of AECOM by 5.7% during the third quarter. Stifel Financial Corp now owns 13,287 shares of the construction company's stock valued at $1,372,000 after acquiring an additional 719 shares in the last quarter. Wellington Management Group LLP increased its stake in AECOM by 4.8% during the 3rd quarter. Wellington Management Group LLP now owns 11,999 shares of the construction company's stock valued at $1,239,000 after purchasing an additional 546 shares in the last quarter. Kovitz Investment Group Partners LLC purchased a new position in AECOM in the third quarter worth about $309,000. XTX Topco Ltd lifted its stake in shares of AECOM by 75.6% in the third quarter. XTX Topco Ltd now owns 4,817 shares of the construction company's stock worth $497,000 after buying an additional 2,074 shares in the last quarter. Finally, MML Investors Services LLC purchased a new stake in shares of AECOM during the third quarter valued at approximately $831,000. 85.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ACM. Barclays boosted 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. Robert W. Baird reduced their price objective on AECOM from $125.00 to $117.00 and set an "outperform" rating for the company in a report on Tuesday, February 4th. Truist Financial decreased their target price on AECOM from $129.00 to $121.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. KeyCorp dropped their price target on shares of AECOM from $122.00 to $121.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Citigroup decreased their price objective on shares of AECOM from $128.00 to $127.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average price target of $119.38.

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AECOM Stock Performance

Shares of ACM stock traded down $0.49 during trading hours on Tuesday, reaching $93.82. 615,689 shares of the company traded hands, compared to its average volume of 894,481. The firm has a 50-day moving average price of $96.21 and a 200 day moving average price of $104.34. The company has a market cap of $12.44 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56.

AECOM (NYSE:ACM - Get Free Report) last issued its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share 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, sell-side analysts predict that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be paid a $0.26 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 1.11%. AECOM's payout ratio is presently 29.55%.

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.