Steven Neil Nackan Sells 4,500 Shares of Aecon Group (TSE:ARE) Stock

Aecon Group Inc. (TSE:ARE) insider Steven Neil Nackan sold 4,500 shares of Aecon Group stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of C$45.55, for a total value of C$204,975.00. Following the sale, the insider directly owned 8,035 shares of the company’s stock, valued at approximately C$365,994.25. This trade represents a 35.90% decrease in their position.

Steven Neil Nackan also recently made the following trade(s):

• On Monday, August 24th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$44.16, for a total value of C$44,160.00.
• On Tuesday, August 18th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The stock was sold at an average price of C$47.02, for a total value of C$47,020.00.
• On Thursday, August 6th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The stock was sold at an average price of C$47.72, for a total value of C$47,720.00.

Aecon Group Trading Down 4.2%

ARE stock opened at C$43.61 on Friday. The company has a market capitalization of C$2.99 billion, a PE ratio of -45.91, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. Aecon Group Inc. has a one year low of C$19.81 and a one year high of C$57.72. The company’s 50 day moving average price is C$47.42 and its two-hundred day moving average price is C$45.08. The company has a debt-to-equity ratio of 84.23, a quick ratio of 1.27 and a current ratio of 1.08.

Aecon Group (TSE:ARE) last announced its quarterly earnings data on Thursday, July 30th. The company reported C$0.33 earnings per share (EPS) for the quarter. The company had revenue of C$1.63 billion during the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. As a group, analysts predict that Aecon Group Inc. will post 1.3793321 earnings per share for the current fiscal year.

Aecon Group Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 3rd. Stockholders of record on Friday, July 3rd were paid a $0.1925 dividend. This represents a $0.77 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s payout ratio is -80.53%.

Analyst Upgrades and Downgrades

ARE has been the topic of a number of analyst reports. Desjardins lifted their price target on Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research note on Monday, July 6th. Stifel Nicolaus upgraded shares of Aecon Group from a “hold” rating to a “buy” rating and raised their target price for the stock from C$46.00 to C$54.00 in a report on Friday, June 26th. TD decreased their target price on shares of Aecon Group from C$62.00 to C$61.00 and set a “buy” rating on the stock in a research note on Friday, June 26th. National Bank Financial upped their price target on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a report on Monday, July 13th. Finally, Canaccord Genuity Group upped their price target on shares of Aecon Group from C$56.00 to C$57.00 and gave the company a “buy” rating in a report on Monday, June 29th. Six analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of C$55.08.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.