California Public Employees Retirement System Raises Stake in AECOM (ACM)
California Public Employees Retirement System grew its position in AECOM (NYSE:ACM) by 2.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,518 shares of the construction company’s stock after buying an additional 7,200 shares during the quarter. California Public Employees Retirement System owned 0.20% of AECOM worth $9,845,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in shares of AECOM by 1.3% in the second quarter. Vanguard Group Inc. now owns 13,443,021 shares of the construction company’s stock valued at $434,613,000 after buying an additional 176,473 shares in the last quarter. BlackRock Inc. grew its stake in shares of AECOM by 15,313.2% in the first quarter. BlackRock Inc. now owns 12,670,699 shares of the construction company’s stock valued at $450,949,000 after buying an additional 12,588,492 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of AECOM by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,570,122 shares of the construction company’s stock valued at $162,648,000 after buying an additional 430,748 shares in the last quarter. State Street Corp grew its stake in shares of AECOM by 2.4% in the first quarter. State Street Corp now owns 3,933,575 shares of the construction company’s stock valued at $139,998,000 after buying an additional 91,860 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of AECOM by 0.3% in the second quarter. Alliancebernstein L.P. now owns 2,816,118 shares of the construction company’s stock valued at $91,045,000 after buying an additional 7,075 shares in the last quarter. 82.06% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have recently weighed in on ACM shares. Credit Suisse Group reaffirmed a “buy” rating and issued a $44.00 price objective on shares of AECOM in a research note on Thursday, June 29th. KeyCorp reaffirmed a “buy” rating on shares of AECOM in a research note on Friday, September 22nd. Robert W. Baird cut AECOM from an “outperform” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research note on Tuesday, July 4th. Zacks Investment Research cut AECOM from a “hold” rating to a “sell” rating in a research note on Friday, July 21st. Finally, BidaskClub cut AECOM from a “sell” rating to a “strong sell” rating in a research note on Tuesday, June 20th. 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. The company presently has a consensus rating of “Hold” and an average target price of $38.80.
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In related news, CEO Michael S. Burke sold 56,800 shares of the stock in a transaction on Thursday, October 5th. The stock was sold at an average price of $36.86, for a total value of $2,093,648.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael S. Burke sold 30,000 shares of the stock in a transaction on Wednesday, September 27th. The shares were 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 disclosure for this sale can be found here. 1.14% of the stock is currently owned by corporate insiders.
AECOM (NYSE:ACM) opened at 36.37 on Monday. The company’s 50-day moving average price is $34.08 and its 200 day moving average price is $33.24. AECOM has a 1-year low of $26.46 and a 1-year high of $40.72. The firm has a market capitalization of $5.70 billion, a PE ratio of 22.27 and a beta of 1.69.
AECOM (NYSE:ACM) last announced its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 earnings per share (EPS) for the quarter, meeting 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 the consensus estimate of $4.54 billion. During the same period in the prior year, the firm earned $0.81 EPS. The firm’s quarterly revenue was up 3.5% compared to the same quarter last year. On average, equities analysts anticipate that AECOM will post $2.91 EPS for the current year.
AECOM announced that its Board of Directors has initiated a stock repurchase plan on Thursday, September 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 18.3% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s management believes its shares are undervalued.
AECOM Company Profile
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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