AECOM (NYSE:ACM) Price Target Raised to $129.00

AECOM (NYSE:ACM) had its price objective boosted by Truist Financial from $119.00 to $129.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the construction company’s stock.

A number of other analysts have also commented on ACM. Robert W. Baird increased their price objective on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Barclays raised their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. The Goldman Sachs Group began coverage on shares of AECOM in a research report on Friday. They issued a “buy” rating and a $130.00 price objective for the company. KeyCorp raised their target price on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada boosted their price target on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $119.38.

AECOM Stock Performance

Shares of ACM opened at $116.89 on Friday. AECOM has a 12-month low of $82.23 and a 12-month high of $118.12. The stock has a market cap of $15.48 billion, a P/E ratio of 39.29, a PEG ratio of 1.98 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03. The company has a 50-day moving average of $106.16 and a two-hundred day moving average of $96.25.

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

AECOM declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

AECOM Increases Dividend

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

Insider Buying and Selling

In other news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by insiders.

Hedge Funds Weigh In On AECOM

Large investors have recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of AECOM in the 1st quarter valued at about $1,085,000. O Shaughnessy Asset Management LLC raised its position in shares of AECOM by 2.8% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 12,242 shares of the construction company’s stock worth $1,201,000 after buying an additional 332 shares in the last quarter. UniSuper Management Pty Ltd raised its holdings in AECOM by 111.1% during the first quarter. UniSuper Management Pty Ltd now owns 1,900 shares of the construction company’s stock worth $186,000 after purchasing an additional 1,000 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its stake in shares of AECOM by 1.2% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 108,839 shares of the construction company’s stock worth $10,675,000 after buying an additional 1,308 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new stake in AECOM in the 1st quarter valued at about $25,000. Institutional investors own 85.41% of the company’s stock.

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.