AECOM (NYSE:ACM) Sees Strong Trading Volume – What’s Next?

Shares of AECOM (NYSE:ACM) saw an uptick in trading volume on Wednesday . 267,526 shares were traded during mid-day trading, a decline of 47% from the previous session’s volume of 509,290 shares.The stock last traded at $106.26 and had previously closed at $107.14.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACM. Truist Financial increased their price target on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Citigroup increased 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. The Goldman Sachs Group started coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 price objective for the company. KeyCorp dropped their price objective on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday. Finally, Robert W. Baird increased their price objective on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, AECOM presently has a consensus rating of “Buy” and a consensus target price of $119.25.

AECOM Stock Down 1.3 %

The firm’s 50 day moving average is $110.70 and its two-hundred day moving average is $101.44. The firm has a market cap of $14.03 billion, a P/E ratio of 35.79, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03.

AECOM (NYSE:ACM) last released its quarterly earnings data 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 2.50% and a return on equity of 25.46%. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm earned $1.01 EPS. AECOM’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, research analysts anticipate that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is 35.14%.

AECOM announced that its board has initiated a share buyback plan on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In related news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction 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 transaction, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. The trade was a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On AECOM

Institutional investors have recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new position in AECOM during the third quarter worth $30,000. True Wealth Design LLC boosted its position in AECOM by 4,242.9% during the third quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock worth $31,000 after purchasing an additional 297 shares during the period. UMB Bank n.a. boosted its position in AECOM by 196.2% during the third quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after purchasing an additional 257 shares during the period. Kathleen S. Wright Associates Inc. bought a new position in AECOM during the third quarter worth $50,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in AECOM during the third quarter worth $59,000. 85.41% of the stock is currently owned by institutional investors and hedge funds.

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.