Geode Capital Management LLC Purchases 14,511 Shares of AECOM (NYSE:ACM)

Geode Capital Management LLC grew its position in AECOM (NYSE:ACM) by 0.6% in the third quarter, HoldingsChannel.com reports. The firm owned 2,270,408 shares of the construction company’s stock after acquiring an additional 14,511 shares during the period. Geode Capital Management LLC’s holdings in AECOM were worth $233,918,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. PNC Financial Services Group Inc. lifted its stake in shares of AECOM by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after buying an additional 103 shares in the last quarter. Fifth Third Bancorp lifted its position 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 valued at $159,000 after acquiring an additional 114 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of AECOM by 3.5% in the third quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after acquiring an additional 132 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of AECOM by 4.7% in the second quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock worth $273,000 after acquiring an additional 138 shares during the period. Finally, Nilsine Partners LLC grew its position in shares of AECOM by 1.1% during the second quarter. Nilsine Partners LLC now owns 13,981 shares of the construction company’s stock worth $1,232,000 after purchasing an additional 152 shares in the last quarter. 85.41% of the stock is owned by hedge funds and other institutional investors.

AECOM Stock Performance

Shares of NYSE:ACM opened at $111.51 on Friday. The firm has a fifty day simple moving average of $110.09 and a two-hundred day simple moving average of $98.77. AECOM has a 52 week low of $82.23 and a 52 week high of $118.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $14.77 billion, a P/E ratio of 37.67, a PEG ratio of 1.92 and a beta of 1.17.

AECOM (NYSE:ACM) last released its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The company had revenue of $1.81 billion during the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the business posted $1.01 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM declared that its board has approved a share repurchase plan on Monday, November 18th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

AECOM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.93%. 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 35.14%.

Insider Buying and Selling

In related news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value of $4,890,416.00. Following the sale, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This represents a 57.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.42% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts recently commented on ACM shares. Robert W. Baird boosted their price target on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup boosted their price target on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, The Goldman Sachs Group initiated coverage on AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective for the company. Nine analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $119.38.

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.