Primecap Management Co. CA Decreases Position in AECOM (NYSE:ACM)

Primecap Management Co. CA cut its stake in AECOM (NYSE:ACM) by 3.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 12,511,207 shares of the construction company’s stock after selling 510,706 shares during the quarter. Primecap Management Co. CA owned about 0.09% of AECOM worth $1,292,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its stake in AECOM by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after buying an additional 103 shares in the last quarter. CreativeOne Wealth LLC lifted its stake in AECOM by 3.4% in the 1st quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock worth $336,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp lifted its stake in AECOM by 6.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock worth $159,000 after purchasing an additional 114 shares in the last quarter. CIBC Asset Management Inc lifted its stake in AECOM by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock worth $408,000 after purchasing an additional 132 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in AECOM by 4.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock worth $273,000 after purchasing an additional 138 shares in the last quarter. 85.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s 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 completion of the transaction, the chief financial officer now 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 at this link. 0.42% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ACM shares. Royal Bank of Canada raised 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. Citigroup raised their target price 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. Robert W. Baird raised their price target on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday. Barclays raised their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Finally, StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $116.43.

AECOM Stock Up 0.6 %

AECOM stock opened at $109.48 on Thursday. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $115.74. 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 firm has a 50 day moving average price of $105.19 and a 200 day moving average price of $95.85. The company has a market capitalization of $14.68 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17.

AECOM (NYSE:ACM) last posted its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating 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 firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter last year, the firm earned $1.01 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that AECOM will post 4.47 earnings per share for the current year.

AECOM announced that its board has initiated a stock buyback program on Monday, November 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.

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 given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.95%. 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 (DPR) is currently 29.73%.

AECOM 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.