Advisors Asset Management Inc. Purchases 8,807 Shares of AECOM (ACM)
Advisors Asset Management Inc. grew its position in shares of AECOM (NYSE:ACM) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 130,242 shares of the construction company’s stock after purchasing an additional 8,807 shares during the quarter. Advisors Asset Management Inc. owned approximately 0.08% of AECOM worth $4,794,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. South Dakota Investment Council boosted its stake in shares of AECOM by 16.5% during the second quarter. South Dakota Investment Council now owns 246,100 shares of the construction company’s stock valued at $7,956,000 after purchasing an additional 34,900 shares in the last quarter. BNP Paribas Arbitrage SA lifted its stake in shares of AECOM by 15.1% in 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. Commonwealth Bank of Australia lifted its stake in shares of AECOM by 210.0% in the second quarter. Commonwealth Bank of Australia now owns 12,400 shares of the construction company’s stock worth $400,000 after acquiring an additional 8,400 shares during the period. J.P. Marvel Investment Advisors LLC lifted its stake in shares of AECOM by 18.3% in the second quarter. J.P. Marvel Investment Advisors LLC now owns 25,820 shares of the construction company’s stock worth $835,000 after acquiring an additional 4,000 shares during the period. Finally, JPMorgan Chase & Co. lifted its stake in shares of AECOM by 53.7% in the second quarter. JPMorgan Chase & Co. now owns 401,338 shares of the construction company’s stock worth $12,975,000 after acquiring an additional 140,274 shares during the period. 80.18% of the stock is currently owned by hedge funds and other institutional investors.
ACM has been the topic of a number of recent analyst reports. KeyCorp reaffirmed a “buy” rating and issued a $40.00 price objective on shares of AECOM in a research note on Friday, August 25th. Zacks Investment Research lowered AECOM from a “hold” rating to a “strong sell” rating in a research note on Friday, August 11th. Citigroup Inc. set a $40.00 price objective on AECOM and gave the stock a “buy” rating in a research note on Thursday, August 17th. Credit Suisse Group reaffirmed a “neutral” rating on shares of AECOM in a research note on Tuesday, November 14th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $36.00 price objective on shares of AECOM in a research note on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. AECOM has an average rating of “Hold” and an average target price of $31.70.
In other AECOM news, CEO Michael S. Burke sold 56,800 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Michael S. Burke sold 30,000 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at approximately $5,711,394. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.
Shares of AECOM (NYSE ACM) opened at $36.65 on Wednesday. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. AECOM has a 1-year low of $30.15 and a 1-year high of $40.72. The stock has a market capitalization of $5,674.48, a price-to-earnings ratio of 12.24, a P/E/G ratio of 1.93 and a beta of 1.71.
AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, November 13th. The construction company reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. AECOM had a return on equity of 12.12% and a net margin of 1.86%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The business’s revenue was up 12.3% on a year-over-year basis. analysts forecast that AECOM will post 2.66 EPS for the current fiscal year.
AECOM declared that its Board of Directors has approved a share repurchase plan on Thursday, September 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 18.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its shares are 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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