Aecon Group (TSE:ARE) Insider Steven Neil Nackan Sells 4,500 Shares

Aecon Group Inc. (TSE:ARE) insider Steven Neil Nackan sold 4,500 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total transaction of C$204,975.00. Following the completion of the transaction, the insider directly owned 8,035 shares in the company, valued at C$365,994.25. This trade represents a 35.90% decrease in their ownership of the stock.

Steven Neil Nackan also recently made the following trade(s):

• On Monday, August 24th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The stock was sold at an average price of C$44.16, for a total value of C$44,160.00.
• On Tuesday, August 18th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.02, for a total value of C$47,020.00.
• On Thursday, August 6th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00.

Aecon Group Stock Performance

Shares of TSE ARE opened at C$43.61 on Friday. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27. Aecon Group Inc. has a one year low of C$19.81 and a one year high of C$57.72. The business’s 50-day moving average price is C$47.42 and its two-hundred day moving average price is C$45.08. The company has a market capitalization of C$2.99 billion, a P/E ratio of -45.91, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41.

Aecon Group (TSE:ARE) last posted its quarterly earnings results on Thursday, July 30th. The company reported C$0.33 earnings per share for the quarter. The company had revenue of C$1.63 billion during the quarter. Aecon Group had a negative return on equity of 6.76% and a negative net margin of 1.10%. Analysts anticipate that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were issued a $0.1925 dividend. The ex-dividend date was Tuesday, June 23rd. This represents a $0.77 dividend on an annualized basis and a yield of 1.8%. Aecon Group’s dividend payout ratio is currently -80.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on ARE. Desjardins boosted their target price on shares of Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Raymond James Financial upgraded shares of Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$52.00 to C$60.00 in a report on Friday, July 3rd. National Bank Financial lifted their price objective on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Canaccord Genuity Group upped their price objective on shares of Aecon Group from C$56.00 to C$57.00 and gave the stock a “buy” rating in a report on Monday, June 29th. Finally, Stifel Nicolaus raised shares of Aecon Group from a “hold” rating to a “buy” rating and increased their target price for the stock from C$46.00 to C$54.00 in a research report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Aecon Group has an average rating of “Moderate Buy” and an average target price of C$55.08.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.