Oppenheimer & Co. Inc. Decreases Stock Holdings in AECOM (NYSE:ACM)

Oppenheimer & Co. Inc. trimmed its holdings in shares of AECOM (NYSE:ACM - Free Report) by 44.2% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 8,400 shares of the construction company's stock after selling 6,663 shares during the period. Oppenheimer & Co. Inc.'s holdings in AECOM were worth $867,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Ninety One UK Ltd bought a new stake in AECOM during the 2nd quarter valued at about $46,109,000. International Assets Investment Management LLC bought a new position in AECOM in the 3rd quarter valued at approximately $42,201,000. DekaBank Deutsche Girozentrale lifted its position in AECOM by 451.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company's stock valued at $47,617,000 after acquiring an additional 394,481 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AECOM by 18.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company's stock valued at $143,573,000 after purchasing an additional 258,250 shares during the last quarter. Finally, Impax Asset Management Group plc increased its holdings in shares of AECOM by 15.5% in the 2nd quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company's stock worth $154,464,000 after purchasing an additional 235,350 shares in the last quarter. 85.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on ACM. Robert W. Baird lifted their price objective on AECOM from $113.00 to $122.00 and gave the stock an "outperform" rating in a report on Tuesday. Citigroup lifted their price target on shares of AECOM from $110.00 to $128.00 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. KeyCorp increased their price objective 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. Truist Financial lifted their target price on shares of AECOM from $108.00 to $119.00 and gave the stock a "buy" rating in a research report on Friday, October 4th. Finally, Barclays raised their price target on AECOM from $100.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday, August 8th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $116.43.

Insider Buying and Selling at AECOM

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

AECOM Stock Performance

ACM traded up $0.65 during midday trading on Wednesday, reaching $109.48. The company had a trading volume of 717,618 shares, compared to its average volume of 799,557. AECOM has a 1 year low of $82.23 and a 1 year high of $115.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The company has a market cap of $14.68 billion, a P/E ratio of 36.60, a P/E/G ratio of 1.61 and a beta of 1.17. The business has a 50-day moving average of $105.19 and a two-hundred day moving average of $95.85.

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. The company had revenue of $1.81 billion for the quarter, compared to analysts' expectations of $1.86 billion. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The firm's revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. As a group, equities research analysts predict that AECOM will post 4.47 earnings per share for the current fiscal year.

AECOM Increases Dividend

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

AECOM declared that its board has authorized a stock buyback plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in 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 typically a sign that the company's board believes its stock is undervalued.

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.