Thematics Asset Management Cuts Position in AECOM (NYSE:ACM)

Thematics Asset Management reduced its holdings in shares of AECOM (NYSE:ACM) by 5.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,472 shares of the construction company’s stock after selling 7,000 shares during the quarter. Thematics Asset Management owned approximately 0.09% of AECOM worth $12,338,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Ninety One UK Ltd bought a new stake in shares of AECOM in the 2nd quarter worth approximately $46,109,000. International Assets Investment Management LLC bought a new position in shares of AECOM in the third quarter worth $42,201,000. DekaBank Deutsche Girozentrale raised its position in shares of AECOM by 451.9% in the first quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company’s stock worth $47,617,000 after buying an additional 394,481 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in AECOM by 18.8% during the second quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock valued at $143,573,000 after buying an additional 258,250 shares during the period. Finally, Impax Asset Management Group plc grew its position in AECOM by 15.5% during the second quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock worth $154,464,000 after buying an additional 235,350 shares in the last quarter. 85.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ACM shares. Barclays upped their price objective on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of AECOM in a report on Friday. They set a “buy” rating and a $130.00 price objective for the company. KeyCorp increased their target price on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Truist Financial lifted their price target on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $119.38.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the transaction, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.42% of the company’s stock.

AECOM Stock Performance

NYSE:ACM traded down $0.57 on Tuesday, hitting $116.32. The stock had a trading volume of 90,937 shares, compared to its average volume of 803,958. AECOM has a 52-week low of $82.23 and a 52-week high of $118.12. The stock has a market cap of $15.41 billion, a price-to-earnings ratio of 39.49, a price-to-earnings-growth ratio of 1.98 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The business’s 50-day simple moving average is $106.53 and its two-hundred day simple moving average is $96.42.

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

AECOM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 0.89%. This is an increase from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is presently 29.73%.

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

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.