Fmr LLC Cuts Stock Position in AECOM (NYSE:ACM)

FMR LLC lessened its stake in shares of AECOM (NYSE:ACM - Free Report) by 11.6% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,322,333 shares of the construction company's stock after selling 173,195 shares during the quarter. FMR LLC owned approximately 0.99% of AECOM worth $136,557,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ACM. Private Trust Co. NA acquired a new position in shares of AECOM during the third quarter worth $30,000. Family Firm Inc. bought a new stake in shares of AECOM during the second quarter worth about $31,000. UMB Bank n.a. increased its position in shares of AECOM by 196.2% during the third quarter. UMB Bank n.a. now owns 388 shares of the construction company's stock worth $40,000 after acquiring an additional 257 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new stake in AECOM in the 3rd quarter worth about $50,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in AECOM in the 3rd quarter worth about $59,000. Institutional investors own 85.41% of the company's stock.

AECOM Stock Performance

ACM stock traded up $0.27 during trading on Wednesday, reaching $114.93. The company had a trading volume of 659,851 shares, compared to its average volume of 807,710. The firm has a 50-day simple moving average of $108.72 and a 200-day simple moving average of $97.61. The company has a market cap of $15.22 billion, a price-to-earnings ratio of 38.83, a price-to-earnings-growth ratio of 1.97 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56.

AECOM (NYSE:ACM - Get Free Report) last released its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.24 by $0.03. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The company had revenue of $1.81 billion during the quarter, compared to analysts' expectations of $1.86 billion. During the same period last year, the business earned $1.01 EPS. AECOM's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts expect that AECOM will post 5.1 earnings per share for the current year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.90%. The ex-dividend date is Thursday, January 2nd. This is a boost from AECOM's previous quarterly dividend of $0.22. AECOM's payout ratio is 29.73%.

AECOM declared that its board has approved a share buyback plan on Monday, November 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on ACM shares. Truist Financial increased their target price on shares of AECOM from $119.00 to $129.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. Robert W. Baird increased their target price on shares of AECOM from $113.00 to $122.00 and gave the company an "outperform" rating in a research report on Tuesday, November 19th. Royal Bank of Canada increased their target price on shares of AECOM from $112.00 to $113.00 and gave the company an "outperform" rating in a research report on Wednesday, August 7th. StockNews.com upgraded shares of AECOM from a "hold" rating to a "buy" rating in a research note on Sunday, October 27th. Finally, The Goldman Sachs Group assumed coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a "buy" rating and a $130.00 target price on the stock. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average target price of $119.38.

Insiders Place Their Bets

In other news, CFO Gaurav Kapoor sold 42,400 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the transaction, the chief financial officer now owns 31,228 shares of the company's stock, valued at approximately $3,601,837.52. The trade was a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.42% of the stock is currently owned by corporate insiders.

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.