Meeder Asset Management Inc. Sells 34,987 Shares of AECOM (NYSE:ACM)

Meeder Asset Management Inc. lessened its stake in AECOM (NYSE:ACM) by 67.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,648 shares of the construction company’s stock after selling 34,987 shares during the quarter. Meeder Asset Management Inc.’s holdings in AECOM were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in AECOM by 5.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,339,185 shares of the construction company’s stock worth $206,176,000 after buying an additional 122,015 shares in the last quarter. Impax Asset Management Group plc boosted its holdings in shares of AECOM by 15.5% during the 2nd quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock valued at $154,464,000 after acquiring an additional 235,350 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of AECOM by 18.8% in the second quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock worth $143,573,000 after acquiring an additional 258,250 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in shares of AECOM by 2.7% during the first quarter. Jacobs Levy Equity Management Inc. now owns 980,228 shares of the construction company’s stock valued at $96,141,000 after purchasing an additional 26,079 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its position in AECOM by 67.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock valued at $71,897,000 after purchasing an additional 326,423 shares during the period. Institutional investors own 85.41% of the company’s stock.

Insider Activity

In related news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction 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 owns 31,228 shares in the company, valued at $3,601,837.52. The trade was a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

ACM has been the subject of several recent research reports. Robert W. Baird boosted their price target on AECOM from $96.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup increased their target price on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. KeyCorp lifted their price target on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada increased their price objective on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, Truist Financial lifted their target price on shares of AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $113.29.

AECOM Stock Up 2.1 %

NYSE ACM opened at $109.19 on Tuesday. The stock has a 50 day moving average price of $104.62 and a 200-day moving average price of $95.65. AECOM has a one year low of $82.23 and a one year high of $115.74. The company has a market capitalization of $14.64 billion, a P/E ratio of 58.70, a P/E/G ratio of 1.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13.

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

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be issued a $0.26 dividend. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.95%. AECOM’s payout ratio is 47.31%.

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.