Tidal Investments LLC lessened its holdings in shares of AECOM (NYSE:ACM - Free Report) by 50.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,519 shares of the construction company's stock after selling 6,631 shares during the period. Tidal Investments LLC's holdings in AECOM were worth $673,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in ACM. Private Trust Co. NA acquired a new stake in AECOM during the third quarter worth approximately $30,000. Family Firm Inc. bought a new stake in shares of AECOM during the 2nd quarter worth approximately $31,000. True Wealth Design LLC boosted its position in shares of AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company's stock worth $31,000 after acquiring an additional 297 shares in the last quarter. UMB Bank n.a. increased its stake in AECOM by 196.2% in the third quarter. UMB Bank n.a. now owns 388 shares of the construction company's stock valued at $40,000 after acquiring an additional 257 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new position in AECOM during the third quarter valued at approximately $50,000. 85.41% of the stock is owned by institutional investors.
AECOM stock opened at $107.99 on Friday. The stock's 50 day moving average is $110.45 and its 200 day moving average is $99.57. AECOM has a one year low of $82.23 and a one year high of $118.56. The firm has a market cap of $14.30 billion, a P/E ratio of 36.48, a P/E/G ratio of 1.92 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13.
AECOM (NYSE:ACM - Get Free Report) last issued its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.03. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The firm had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the company earned $1.01 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. As a group, research analysts expect that AECOM will post 5.1 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from AECOM's previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.96%. AECOM's dividend payout ratio (DPR) is 35.14%.
AECOM declared that its Board of Directors has initiated a stock buyback program on Monday, November 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its shares are undervalued.
ACM has been the topic of several recent analyst reports. StockNews.com upgraded AECOM from a "hold" rating to a "buy" rating in a research note on Sunday, October 27th. Robert W. Baird increased their price objective on shares of AECOM from $113.00 to $122.00 and gave the company an "outperform" rating in a research note on Tuesday, November 19th. KeyCorp boosted their target price on shares of AECOM from $115.00 to $122.00 and gave the stock an "overweight" rating in a research note on Thursday, November 7th. Truist Financial increased their price target on AECOM from $119.00 to $129.00 and gave the company a "buy" rating in a research note on Friday, November 22nd. Finally, Citigroup boosted their price objective on AECOM from $110.00 to $128.00 and gave the stock a "buy" rating in a research report on Tuesday, October 22nd. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, AECOM currently has an average rating of "Buy" and a consensus target price of $119.38.
Check Out Our Latest Research Report on ACM
In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the transaction, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.42% of the stock is owned by company insiders.
AECOM, together with its subsidiaries, provides professional infrastructure consulting services worldwide. It operates in three segments: Americas, International, and AECOM Capital. The company offers planning, consulting, architectural and engineering design, construction and program management, and investment and development services to public and private clients.
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