Primecap Management Co. CA Has $1.15 Billion Stock Position in AECOM (NYSE:ACM)

Primecap Management Co. CA trimmed its position in AECOM (NYSE:ACM) by 3.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,021,913 shares of the construction company’s stock after selling 404,306 shares during the quarter. Primecap Management Co. CA owned approximately 9.57% of AECOM worth $1,147,751,000 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 the company. Renaissance Technologies LLC increased its position in AECOM by 5.2% in the second quarter. Renaissance Technologies LLC now owns 327,077 shares of the construction company’s stock worth $28,829,000 after purchasing an additional 16,100 shares during the period. Sierra Summit Advisors LLC acquired a new stake in AECOM in the second quarter worth about $5,807,000. Stoneridge Investment Partners LLC acquired a new stake in AECOM in the second quarter worth about $513,000. Meeder Advisory Services Inc. increased its position in AECOM by 16.0% in the second quarter. Meeder Advisory Services Inc. now owns 2,813 shares of the construction company’s stock worth $248,000 after purchasing an additional 389 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in AECOM by 67.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock worth $71,897,000 after purchasing an additional 326,423 shares during the period. 85.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACM. Royal Bank of Canada boosted their target price on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Truist Financial restated a “buy” rating and set a $108.00 target price (up from $107.00) on shares of AECOM in a research report on Wednesday, August 7th. Citigroup decreased their target price on AECOM from $116.00 to $104.00 and set a “buy” rating for the company in a research report on Monday, July 22nd. Robert W. Baird boosted their target price on AECOM from $96.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, KeyCorp boosted their target price on AECOM from $94.00 to $99.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $105.00.

AECOM Price Performance

Shares of ACM opened at $98.40 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13. The stock has a 50 day simple moving average of $93.44 and a 200 day simple moving average of $92.02. AECOM has a 52-week low of $74.40 and a 52-week high of $102.26. The firm has a market capitalization of $13.39 billion, a PE ratio of -1,093.33, a P/E/G ratio of 1.60 and a beta of 1.17.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.04. AECOM had a return on equity of 24.14% and a net margin of 1.61%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period in the previous year, the firm earned $0.94 EPS. AECOM’s quarterly revenue was up 13.3% compared to the same quarter last year. Sell-side analysts predict that AECOM will post 4.46 EPS for the current fiscal year.

AECOM Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 18th. Shareholders of record on Wednesday, October 2nd will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 0.89%. The ex-dividend date is Wednesday, October 2nd. AECOM’s payout ratio is -977.78%.

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.