Ontario Teachers Pension Plan Board Sells 32,634 Shares of AECOM (NYSE:ACM)

Ontario Teachers Pension Plan Board lessened its stake in shares of AECOM (NYSE:ACM - Free Report) by 59.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,494 shares of the construction company's stock after selling 32,634 shares during the period. Ontario Teachers Pension Plan Board's holdings in AECOM were worth $2,323,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACM. EntryPoint Capital LLC bought a new stake in shares of AECOM in the 1st quarter worth approximately $25,000. Family Firm Inc. bought a new position in shares of AECOM during the 2nd quarter worth $31,000. UMB Bank n.a. increased its holdings in AECOM by 196.2% in the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company's stock worth $40,000 after acquiring an additional 257 shares during the last quarter. Versant Capital Management Inc raised its stake in AECOM by 4,375.0% in the 2nd quarter. Versant Capital Management Inc now owns 537 shares of the construction company's stock valued at $47,000 after acquiring an additional 525 shares during the period. Finally, Kathleen S. Wright Associates Inc. purchased a new stake in AECOM during the third quarter valued at about $50,000. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ACM. Robert W. Baird increased their price objective on AECOM from $113.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday. KeyCorp increased their price target on shares of AECOM from $115.00 to $122.00 and gave the stock an "overweight" rating in a report on Thursday, November 7th. Citigroup boosted their price objective on shares of AECOM from $110.00 to $128.00 and gave the company a "buy" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada increased their target price on shares of AECOM from $112.00 to $113.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 7th. Finally, Truist Financial upped their price target on shares of AECOM from $108.00 to $119.00 and gave the stock a "buy" rating in a report on Friday, October 4th. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM currently has a consensus rating of "Buy" and a consensus price target of $116.43.

AECOM Price Performance

Shares of ACM stock traded up $0.65 during trading hours on Wednesday, hitting $109.48. 717,618 shares of the company's stock were exchanged, compared to its average volume of 799,557. AECOM has a 12-month low of $82.23 and a 12-month high of $115.74. The company has a market capitalization of $14.68 billion, a PE ratio of 36.60, a PEG ratio of 1.61 and a beta of 1.17. The business's 50 day simple moving average is $105.19 and its 200-day simple moving average is $95.85. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98.

AECOM (NYSE:ACM - Get Free Report) last posted its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the previous year, the firm posted $1.01 earnings per share. The firm's revenue for the quarter was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that AECOM will post 4.47 earnings per share for the current year.

AECOM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 annualized dividend and a yield of 0.95%. This is an increase from AECOM's previous quarterly dividend of $0.22. AECOM's payout ratio is presently 29.73%.

AECOM declared that its Board of Directors has initiated a share repurchase plan on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, CFO Gaurav Kapoor sold 42,400 shares of the firm's 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 completion of the sale, the chief financial officer now directly owns 31,228 shares of the company's stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.42% of the company's stock.

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.