Ontario Teachers Pension Plan Board Cuts Stake in AECOM (NYSE:ACM)

Ontario Teachers Pension Plan Board reduced its position in shares of AECOM (NYSE:ACM) by 59.2% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 22,494 shares of the construction company’s stock after selling 32,634 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in AECOM were worth $2,323,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. PNC Financial Services Group Inc. increased its position in shares of AECOM by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after acquiring an additional 103 shares in the last quarter. CreativeOne Wealth LLC increased its holdings in shares of AECOM by 3.4% in the 1st quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock worth $336,000 after purchasing an additional 114 shares in the last quarter. Fifth Third Bancorp raised its stake in shares of AECOM by 6.7% in the second quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock worth $159,000 after purchasing an additional 114 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of AECOM by 3.5% during the third quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after purchasing an additional 132 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in shares of AECOM by 4.7% during the second quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after buying an additional 138 shares during the last quarter. 85.41% of the stock is owned by hedge funds and other institutional investors.

AECOM Stock Down 0.3 %

NYSE ACM opened at $108.80 on Wednesday. AECOM has a 52 week low of $82.23 and a 52 week high of $115.74. 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 company has a market capitalization of $14.59 billion, a P/E ratio of 36.76, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The stock’s 50-day moving average price is $104.92 and its 200-day moving average price is $95.75.

AECOM (NYSE:ACM) last released 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. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.01 EPS. On average, equities research analysts predict that AECOM will post 4.47 earnings per share for the current year.

AECOM declared that its board has authorized a stock buyback program on Monday, November 18th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock 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 declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Thursday, January 2nd. This is a positive change from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio is presently 29.73%.

Insider Activity

In related news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated 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 sale, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.42% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ACM shares. Barclays boosted their target price on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. KeyCorp increased their price objective on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird raised their target price on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday. Citigroup boosted their target price on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat, AECOM currently has an average rating of “Buy” and an average price target of $116.43.

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.