Geode Capital Management LLC Raises Stake in AECOM (NYSE:ACM)

Geode Capital Management LLC boosted its stake in shares of AECOM (NYSE:ACM - Free Report) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,270,408 shares of the construction company's stock after purchasing an additional 14,511 shares during the quarter. Geode Capital Management LLC owned approximately 1.69% of AECOM worth $233,918,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ACM. Mackenzie Financial Corp lifted its stake in AECOM by 12.5% in the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company's stock worth $936,000 after acquiring an additional 1,180 shares during the last quarter. Swedbank AB lifted its position in shares of AECOM by 13.6% during the 2nd quarter. Swedbank AB now owns 72,823 shares of the construction company's stock worth $6,419,000 after purchasing an additional 8,694 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of AECOM by 5.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company's stock worth $26,714,000 after purchasing an additional 12,224 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in AECOM by 60.5% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,051 shares of the construction company's stock valued at $2,296,000 after buying an additional 9,815 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in AECOM in the third quarter valued at $495,000. Institutional investors and hedge funds own 85.41% of the company's stock.

AECOM Stock Performance

Shares of NYSE:ACM traded down $0.52 on Friday, reaching $111.51. The company's stock had a trading volume of 782,959 shares, compared to its average volume of 802,768. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56. The stock has a market capitalization of $14.77 billion, a P/E ratio of 37.67, a PEG ratio of 1.92 and a beta of 1.17. The stock's 50-day moving average is $110.09 and its two-hundred day moving average is $98.87. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13.

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

AECOM announced that its Board of Directors has approved a share buyback plan on Monday, November 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

AECOM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.93%. This is a positive change from AECOM's previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM's dividend payout ratio (DPR) is 35.14%.

Insider Buying and Selling at AECOM

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

Analysts Set New Price Targets

Several research firms have recently issued reports on ACM. Citigroup upped their price objective on AECOM from $110.00 to $128.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of AECOM from a "hold" rating to a "buy" rating in a research note on Sunday, October 27th. Truist Financial boosted their price objective 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. KeyCorp increased their target price on shares of AECOM from $115.00 to $122.00 and gave the company an "overweight" rating in a research report on Thursday, November 7th. Finally, Robert W. Baird boosted their price target 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. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $119.38.

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.