AECOM (NYSE:ACM) Shares Bought by Verition Fund Management LLC

Verition Fund Management LLC grew its stake in AECOM (NYSE:ACM) by 293.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,602 shares of the construction company’s stock after purchasing an additional 134,730 shares during the period. Verition Fund Management LLC owned approximately 0.13% of AECOM worth $18,651,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ACM. Private Trust Co. NA acquired a new stake in AECOM in the third quarter valued at about $30,000. Family Firm Inc. purchased a new position in shares of AECOM during the 2nd quarter worth approximately $31,000. UMB Bank n.a. lifted its holdings 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 buying an additional 257 shares during the period. Versant Capital Management Inc boosted its stake in shares of AECOM by 4,375.0% in the second quarter. Versant Capital Management Inc now owns 537 shares of the construction company’s stock valued at $47,000 after buying an additional 525 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in AECOM during the third quarter worth $50,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Truist Financial raised their target price on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. KeyCorp raised their price objective 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. The Goldman Sachs Group started coverage on shares of AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 target price on the stock. Robert W. Baird lifted their price target on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM has a consensus rating of “Buy” and an average price target of $119.38.

AECOM Trading Up 0.2 %

Shares of AECOM stock opened at $117.01 on Friday. AECOM has a 1 year low of $82.23 and a 1 year high of $118.56. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. The business has a 50 day moving average price of $107.91 and a 200 day moving average price of $97.04. The company has a market capitalization of $15.50 billion, a P/E ratio of 39.53, a P/E/G ratio of 1.99 and a beta of 1.17.

AECOM (NYSE:ACM) last released its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The company had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. Sell-side analysts anticipate that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Increases Dividend

The company 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 $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. This is a positive change from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio is 29.73%.

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

Insiders Place Their Bets

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of AECOM 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 transaction, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. The trade was a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by corporate insiders.

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.