AECOM (ACM) CEO Michael S. Burke Sells 30,000 Shares of Stock
AECOM (NYSE:ACM) CEO Michael S. Burke sold 30,000 shares of AECOM stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total value of $1,110,000.00. Following the completion of the sale, the chief executive officer now owns 154,362 shares of the company’s stock, valued at $5,711,394. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Shares of AECOM (ACM) traded down 0.54% on Friday, hitting $36.81. The company had a trading volume of 630,172 shares. AECOM has a 52 week low of $26.46 and a 52 week high of $40.72. The stock’s 50-day moving average is $32.45 and its 200 day moving average is $33.16. The company has a market capitalization of $5.77 billion, a price-to-earnings ratio of 22.54 and a beta of 1.70.
AECOM (NYSE:ACM) last announced its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.78 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.78. AECOM had a return on equity of 12.19% and a net margin of 1.46%. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period last year, the business posted $0.81 earnings per share. The company’s revenue for the quarter was up 3.5% compared to the same quarter last year. Equities analysts expect that AECOM will post $2.91 EPS for the current year.
AECOM announced that its board has approved a stock repurchase program on Thursday, September 21st that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 18.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.
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Several research firms recently commented on ACM. Robert W. Baird reiterated a “neutral” rating and issued a $38.00 price objective (up from $36.00) on shares of AECOM in a report on Friday, September 22nd. KeyCorp restated a “buy” rating on shares of AECOM in a research note on Friday, September 22nd. Zacks Investment Research upgraded AECOM from a “strong sell” rating to a “hold” rating in a research note on Tuesday, September 19th. Citigroup Inc. set a $40.00 price target on AECOM and gave the company a “buy” rating in a research note on Thursday, August 17th. Finally, Credit Suisse Group restated a “hold” rating and set a $37.00 price target on shares of AECOM in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have assigned a buy rating to the company’s stock. AECOM currently has an average rating of “Hold” and an average target price of $38.64.
Institutional investors have recently bought and sold shares of the stock. South Dakota Investment Council grew its holdings in AECOM by 16.5% during the second quarter. South Dakota Investment Council now owns 246,100 shares of the construction company’s stock worth $7,956,000 after acquiring an additional 34,900 shares during the period. BNP Paribas Arbitrage SA grew its holdings in AECOM by 15.1% during the second quarter. BNP Paribas Arbitrage SA now owns 92,861 shares of the construction company’s stock worth $3,002,000 after acquiring an additional 12,167 shares during the period. Alliancebernstein L.P. grew its holdings in AECOM by 0.3% during the second quarter. Alliancebernstein L.P. now owns 2,816,118 shares of the construction company’s stock worth $91,045,000 after acquiring an additional 7,075 shares during the period. Reilly Financial Advisors LLC grew its holdings in AECOM by 23.7% during the second quarter. Reilly Financial Advisors LLC now owns 249,833 shares of the construction company’s stock worth $8,077,000 after acquiring an additional 47,810 shares during the period. Finally, OppenheimerFunds Inc. grew its holdings in AECOM by 3.4% during the first quarter. OppenheimerFunds Inc. now owns 773,110 shares of the construction company’s stock worth $27,515,000 after acquiring an additional 25,229 shares during the period. 82.06% of the stock is currently owned by hedge funds and other institutional investors.
AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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