Oppenheimer & Co. Inc. Sells 6,663 Shares of AECOM (NYSE:ACM)

Oppenheimer & Co. Inc. decreased its holdings in shares of AECOM (NYSE:ACM) by 44.2% in the third quarter, HoldingsChannel reports. The firm owned 8,400 shares of the construction company’s stock after selling 6,663 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in AECOM were worth $867,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of AECOM by 5.0% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock valued at $26,714,000 after acquiring an additional 12,224 shares in the last quarter. GSA Capital Partners LLP purchased a new position in AECOM during the 3rd quarter valued at $237,000. Buckingham Capital Management Inc. raised its holdings in AECOM by 2.4% in the 3rd quarter. Buckingham Capital Management Inc. now owns 93,926 shares of the construction company’s stock worth $9,700,000 after purchasing an additional 2,234 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of AECOM by 5.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 41,214 shares of the construction company’s stock worth $4,256,000 after purchasing an additional 2,311 shares during the period. Finally, Assetmark Inc. bought a new stake in shares of AECOM during the 3rd quarter valued at about $163,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

AECOM Price Performance

Shares of NYSE ACM opened at $108.80 on Wednesday. The firm has a market cap of $14.59 billion, a P/E ratio of 58.49, a PEG ratio of 1.61 and a beta of 1.17. AECOM has a twelve month low of $82.23 and a twelve month 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 50 day moving average of $104.92 and a 200 day moving average of $95.75.

AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. AECOM had a return on equity of 24.14% and a net margin of 1.61%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period in the prior year, the company posted $1.01 earnings per share. The company’s quarterly revenue was up 4.9% on a year-over-year basis. As a group, research analysts expect that AECOM will post 4.47 EPS for the current fiscal year.

AECOM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 annualized dividend and a yield of 0.96%. This is a boost from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio (DPR) is currently 47.31%.

AECOM declared that its Board of Directors has authorized 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 buy up to 6.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Upgrades and Downgrades

ACM has been the subject of a number of research reports. KeyCorp raised their price objective on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial raised their target price on AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays upped their price target on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Royal Bank of Canada raised their price objective on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Citigroup upped their target price on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, AECOM presently has an average rating of “Buy” and a consensus target price of $116.43.

Insiders Place Their Bets

In related news, CFO Gaurav Kapoor sold 42,400 shares of the company’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 sale, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.42% of the stock is currently owned by insiders.

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.