Geode Capital Management LLC Acquires 14,511 Shares of AECOM (NYSE:ACM)

Geode Capital Management LLC increased its holdings in shares of AECOM (NYSE:ACM) by 0.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,270,408 shares of the construction company’s stock after acquiring an additional 14,511 shares during the period. Geode Capital Management LLC owned approximately 1.69% of AECOM worth $233,918,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Citigroup upped 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. Truist Financial upped their target price on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Robert W. Baird raised 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. KeyCorp upped their price objective on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group assumed coverage on AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price for the company. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AECOM has a consensus rating of “Buy” and a consensus target price of $119.38.

AECOM Trading Down 0.5 %

NYSE:ACM opened at $111.51 on Friday. The company has a market cap of $14.77 billion, a PE ratio of 37.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03. The company has a 50 day simple moving average of $110.09 and a two-hundred day simple moving average of $98.77. AECOM has a 12 month low of $82.23 and a 12 month high of $118.56.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping 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 company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the company posted $1.01 earnings per share. AECOM’s revenue was up 4.9% compared to the same quarter last year. Research analysts forecast that AECOM will post 5.1 earnings per share for the current year.

AECOM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio is 35.14%.

AECOM declared that its Board of Directors has approved a share buyback program on Monday, November 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling

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 value of $4,890,416.00. Following the transaction, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The transaction 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 insiders.

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.