Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in AECOM (NYSE:ACM)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in AECOM (NYSE:ACM) by 1.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 73,948 shares of the construction company’s stock after purchasing an additional 1,333 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in AECOM were worth $7,637,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mackenzie Financial Corp raised its holdings in AECOM by 12.5% in the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock valued at $936,000 after acquiring an additional 1,180 shares in the last quarter. Price T Rowe Associates Inc. MD raised 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 in the last quarter. SG Americas Securities LLC lifted its position in shares of AECOM by 24.3% during the second quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock worth $17,917,000 after purchasing an additional 39,801 shares during the last quarter. Swedbank AB grew its stake in AECOM by 13.6% in the second quarter. Swedbank AB now owns 72,823 shares of the construction company’s stock worth $6,419,000 after purchasing an additional 8,694 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in AECOM by 5.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock valued at $26,714,000 after buying an additional 12,224 shares during the last quarter. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 31,228 shares in the company, valued at $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.42% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Barclays increased their target price on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Citigroup lifted their price objective on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Truist Financial lifted their price target on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Robert W. Baird increased their price objective on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $119.38.

AECOM Stock Performance

ACM opened at $116.97 on Monday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03. The business’s 50 day moving average is $107.91 and its 200-day moving average is $97.12. The stock has a market cap of $15.49 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 1.99 and a beta of 1.17. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56.

AECOM (NYSE:ACM) last announced its earnings results 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 25.46% and a net margin of 2.50%. 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 business earned $1.01 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, analysts predict that AECOM will post 5.1 earnings per share for the current year.

AECOM announced that its Board of Directors has authorized a stock buyback plan on Monday, November 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

AECOM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors 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%. 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. AECOM’s dividend payout ratio is currently 29.73%.

AECOM Profile

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.