AECOM (ACM) Holdings Trimmed by Municipal Employees Retirement System of Michigan
Municipal Employees Retirement System of Michigan reduced its stake in shares of AECOM (NYSE:ACM) by 21.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,400 shares of the construction company’s stock after selling 12,710 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in AECOM were worth $1,745,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently modified their holdings of the company. Crow Point Partners LLC acquired a new position in AECOM during the third quarter worth about $102,000. Nomura Asset Management Co. Ltd. grew its position in AECOM by 4.9% during the first quarter. Nomura Asset Management Co. Ltd. now owns 3,410 shares of the construction company’s stock worth $122,000 after buying an additional 160 shares during the period. Financial Architects Inc grew its position in AECOM by 1.0% during the second quarter. Financial Architects Inc now owns 4,632 shares of the construction company’s stock worth $150,000 after buying an additional 48 shares during the period. Global X Management Co. LLC grew its position in AECOM by 220.7% during the second quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock worth $159,000 after buying an additional 3,388 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in AECOM by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock worth $173,000 after buying an additional 576 shares during the period. Institutional investors own 82.07% of the company’s stock.
In related news, CEO Michael S. Burke sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the transaction, the chief executive officer now owns 154,362 shares of the company’s stock, valued at $5,711,394. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael S. Burke sold 56,800 shares of the company’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $36.86, for a total transaction of $2,093,648.00. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
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Several brokerages have weighed in on ACM. Zacks Investment Research upgraded shares of AECOM from a “sell” rating to a “hold” rating in a research report on Wednesday. UBS AG restated a “buy” rating and set a $4.00 target price (down from $40.00) on shares of AECOM in a research report on Tuesday. KeyCorp restated a “buy” rating on shares of AECOM in a research report on Friday, September 22nd. Canaccord Genuity restated a “hold” rating and set a $36.00 target price on shares of AECOM in a research report on Tuesday. Finally, Robert W. Baird restated a “neutral” rating and set a $38.00 target price (up from $36.00) on shares of AECOM in a research report on Friday, September 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company has an average rating of “Hold” and an average price target of $31.70.
AECOM (ACM) opened at $34.04 on Thursday. The company has a debt-to-equity ratio of 0.96, a quick ratio of 1.22 and a current ratio of 1.22. The stock has a market cap of $5,392.33, a P/E ratio of 11.64, a P/E/G ratio of 1.83 and a beta of 1.71. AECOM has a one year low of $30.15 and a one year high of $40.72.
AECOM (NYSE:ACM) last announced its quarterly earnings data on Monday, November 13th. The construction company reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.03. The business had revenue of $4.86 billion for the quarter, compared to the consensus estimate of $4.63 billion. AECOM had a net margin of 1.86% and a return on equity of 12.51%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. research analysts forecast that AECOM will post 2.68 EPS for the current fiscal year.
AECOM declared that its board has authorized a share buyback 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 buy up to 18.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
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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