M&T Bank Corp acquired a new position in AECOM (NYSE:ACM) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,433 shares of the construction company’s stock, valued at approximately $337,000.
Several other institutional investors also recently made changes to their positions in ACM. UBS Asset Management Americas Inc. grew its stake in shares of AECOM by 10.1% in the first quarter. UBS Asset Management Americas Inc. now owns 105,568 shares of the construction company’s stock worth $3,757,000 after acquiring an additional 9,670 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of AECOM in the first quarter worth $203,000. JPMorgan Chase & Co. grew its stake in shares of AECOM by 1.6% in the first quarter. JPMorgan Chase & Co. now owns 261,064 shares of the construction company’s stock worth $9,291,000 after acquiring an additional 4,032 shares during the last quarter. Stifel Financial Corp acquired a new stake in shares of AECOM in the first quarter worth $373,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of AECOM in the first quarter worth $772,000. Institutional investors and hedge funds own 82.06% of the company’s stock.
In other AECOM news, CEO Michael S. Burke sold 56,800 shares of the company’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 sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael S. Burke sold 30,000 shares of the company’s 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 transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at $5,711,394. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.
Shares of AECOM (NYSE:ACM) opened at 36.25 on Wednesday. The firm’s 50-day moving average is $34.41 and its 200-day moving average is $33.26. AECOM has a 1-year low of $26.46 and a 1-year high of $40.72. The firm has a market cap of $5.68 billion, a P/E ratio of 22.20 and a beta of 1.69.
AECOM (NYSE:ACM) last issued its quarterly earnings data on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the prior year, the firm posted $0.81 EPS. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. On average, analysts anticipate that AECOM will post $2.91 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 repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 18.3% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.
ACM has been the topic of several research analyst reports. Credit Suisse Group restated a “buy” rating and issued a $44.00 price objective on shares of AECOM in a research note on Thursday, June 29th. UBS AG set a $38.00 price objective on shares of AECOM and gave the stock a “buy” rating in a research note on Monday, June 26th. Citigroup Inc. restated a “buy” rating and issued a $40.00 price objective (down previously from $45.00) on shares of AECOM in a research note on Tuesday, July 18th. KeyCorp restated a “buy” rating and issued a $40.00 price objective on shares of AECOM in a research note on Friday, August 25th. Finally, Robert W. Baird restated a “hold” rating and issued a $36.00 price objective on shares of AECOM in a research note on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $38.80.
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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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