King Luther Capital Management Corp Buys 230 Shares of AECOM (NYSE:ACM)

King Luther Capital Management Corp raised its position in shares of AECOM (NYSE:ACM) by 0.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 41,156 shares of the construction company’s stock after purchasing an additional 230 shares during the quarter. King Luther Capital Management Corp’s holdings in AECOM were worth $4,250,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ACM. Mackenzie Financial Corp increased its position in shares of AECOM by 12.5% during the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock worth $936,000 after buying an additional 1,180 shares during the period. Acadian Asset Management LLC acquired a new stake in AECOM during the 1st quarter worth about $1,085,000. Plato Investment Management Ltd bought a new position in shares of AECOM in the 1st quarter worth about $741,000. Price T Rowe Associates Inc. MD lifted its stake in shares of AECOM by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock valued at $8,564,000 after purchasing an additional 6,003 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of AECOM by 24.3% during the 2nd quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock valued at $17,917,000 after purchasing an additional 39,801 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ACM has been the subject of a number of research analyst reports. KeyCorp lifted their target price on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays lifted their price objective on shares of AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. The Goldman Sachs Group assumed coverage on shares of AECOM in a research note on Friday. They set a “buy” rating and a $130.00 target price on the stock. Citigroup lifted their price target on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada upped their price objective on shares of AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $119.38.

AECOM Stock Performance

Shares of AECOM stock opened at $116.30 on Friday. The company has a market cap of $15.59 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. AECOM has a 52 week low of $82.23 and a 52 week high of $116.76. The business has a 50 day moving average price of $105.79 and a 200-day moving average price of $96.06.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.28% and a net margin of 2.50%. The business had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period last year, the business earned $1.01 EPS. The business’s revenue was up 4.9% on a year-over-year basis. Equities analysts anticipate that AECOM will post 4.95 earnings per share for the current fiscal year.

AECOM Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. This is an increase from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio is presently 29.73%.

AECOM declared that its Board of Directors has authorized a share buyback program on Monday, November 18th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the construction company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total value of $4,890,416.00. Following the transaction, the chief financial officer now owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. The trade was a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

About AECOM

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.