Weiss Asset Management LP Makes New $1.69 Million Investment in AECOM (NYSE:ACM)

Weiss Asset Management LP acquired a new position in shares of AECOM (NYSE:ACM) during the third quarter, HoldingsChannel reports. The fund acquired 16,380 shares of the construction company’s stock, valued at approximately $1,692,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Private Trust Co. NA bought a new stake in AECOM during the 3rd quarter worth about $30,000. True Wealth Design LLC grew its holdings in AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock worth $31,000 after acquiring an additional 297 shares during the last quarter. Family Firm Inc. bought a new stake in AECOM during the 2nd quarter worth about $31,000. UMB Bank n.a. grew its holdings in AECOM by 196.2% during the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after acquiring an additional 257 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new stake in AECOM during the 3rd quarter worth about $50,000. Institutional investors own 85.41% of the company’s stock.

AECOM Stock Performance

Shares of NYSE:ACM opened at $113.75 on Friday. The company has a market capitalization of $15.07 billion, a price-to-earnings ratio of 38.43, a P/E/G ratio of 1.95 and a beta of 1.17. The firm’s 50 day simple moving average is $109.15 and its 200 day simple moving average is $97.94. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $118.56.

AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. AECOM’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period last year, the company posted $1.01 EPS. As a group, sell-side analysts forecast that AECOM will post 5.1 earnings per share for the current year.

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.

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 0.91%. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is 29.73%.

Insiders Place Their Bets

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 transaction of $4,890,416.00. Following the sale, 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 position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ACM. Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group began coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price on the stock. Robert W. Baird raised their target price 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. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Finally, KeyCorp raised their target price on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Nine 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 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.