New York Life Investment Management LLC Has $1.59 Million Position in AECOM (NYSE:ACM)

New York Life Investment Management LLC lessened its stake in shares of AECOM (NYSE:ACM) by 10.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,864 shares of the construction company’s stock after selling 1,667 shares during the period. New York Life Investment Management LLC’s holdings in AECOM were worth $1,588,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Principal Securities Inc. increased its stake in AECOM by 95.9% during the 4th quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares in the last quarter. Allworth Financial LP increased its stake in AECOM by 390.6% during the 4th quarter. Allworth Financial LP now owns 260 shares of the construction company’s stock valued at $29,000 after purchasing an additional 207 shares in the last quarter. Private Trust Co. NA bought a new stake in AECOM during the 3rd quarter valued at $30,000. National Pension Service bought a new stake in AECOM during the 4th quarter valued at $32,000. Finally, True Wealth Design LLC increased its stake in AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after purchasing an additional 297 shares in the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

Analysts Set New Price Targets

ACM has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on shares of AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. KeyCorp decreased their price target on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Truist Financial boosted their price target 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. Robert W. Baird reduced their target price on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating for the company in a research note on Tuesday, February 4th. Finally, Barclays upped their target price on shares of AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AECOM currently has a consensus rating of “Buy” and an average price target of $120.38.

AECOM Price Performance

ACM opened at $97.08 on Tuesday. The firm has a market cap of $12.88 billion, a P/E ratio of 27.58, a PEG ratio of 1.63 and a beta of 1.19. The firm has a 50-day moving average of $105.16 and a 200 day moving average of $105.51. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $118.56.

AECOM (NYSE:ACM) last posted its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. On average, research analysts expect that AECOM will post 5.1 EPS for the current year.

AECOM declared that its board has authorized a stock buyback plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.