Truist Financial Forecasts Strong Price Appreciation for AECOM (NYSE:ACM) Stock

AECOM (NYSE:ACM) had its target price upped by Truist Financial from $119.00 to $129.00 in a research note published on Friday morning,Benzinga reports. The firm currently has a buy rating on the construction company’s stock.

Several other research firms also recently commented on ACM. Barclays upped their target price on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a research report on Thursday, August 8th. The Goldman Sachs Group began coverage on AECOM in a research report on Friday. They issued a “buy” rating and a $130.00 target price on the stock. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. KeyCorp upped their target price on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada increased their price target on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $119.38.

AECOM Price Performance

NYSE:ACM opened at $116.30 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock’s 50 day moving average price is $105.79 and its two-hundred day moving average price is $96.06. The firm has a market capitalization of $15.59 billion, a price-to-earnings ratio of 39.29, a P/E/G ratio of 1.64 and a beta of 1.17. AECOM has a 12-month low of $82.23 and a 12-month high of $116.76.

AECOM (NYSE:ACM) last released its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.28% and a net margin of 2.50%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the prior year, the company earned $1.01 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts anticipate that AECOM will post 4.95 earnings per share for the current year.

AECOM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be given a dividend of $0.26 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. This is an increase from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio is currently 29.73%.

AECOM announced that its Board of Directors has authorized 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 buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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 on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total value of $4,890,416.00. Following the sale, the chief financial officer now owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AECOM

Large investors have recently modified their holdings of the business. EntryPoint Capital LLC acquired a new stake in shares of AECOM in the 1st quarter valued at $25,000. Private Trust Co. NA bought a new position in shares of AECOM in the 3rd quarter valued at $30,000. Family Firm Inc. bought a new position in shares of AECOM in the 2nd quarter valued at $31,000. True Wealth Design LLC lifted its stake in shares of AECOM by 4,242.9% in the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after acquiring an additional 297 shares during the last quarter. Finally, UMB Bank n.a. lifted its stake in shares of AECOM by 196.2% in the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock valued at $40,000 after acquiring an additional 257 shares during the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

About AECOM

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.