KeyCorp Has Lowered Expectations for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its price objective trimmed by KeyCorp from $122.00 to $121.00 in a report released on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

Other analysts have also recently issued reports about the stock. The Goldman Sachs Group began coverage on shares of AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. Citigroup increased their target price on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Truist Financial increased their price objective on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Robert W. Baird boosted their target price on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM has an average rating of “Buy” and a consensus price target of $119.25.

AECOM Price Performance

ACM stock opened at $107.18 on Wednesday. The company has a market cap of $14.20 billion, a PE ratio of 36.21, a price-to-earnings-growth ratio of 1.92 and a beta of 1.19. 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 stock has a 50-day moving average price of $110.69 and a two-hundred day moving average price of $101.36. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56.

AECOM (NYSE:ACM) last issued its 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 return on equity of 25.46% and a net margin of 2.50%. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. During the same quarter in the previous year, the business 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 predict that AECOM will post 5.1 EPS for the current year.

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

AECOM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 0.97%. This is an increase from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. AECOM’s dividend payout ratio is 35.14%.

Insider Transactions 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 transaction of $4,890,416.00. Following the sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AECOM

A number of institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp boosted 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 worth $936,000 after purchasing an additional 1,180 shares during the period. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of AECOM by 5.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock worth $26,714,000 after buying an additional 12,224 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of AECOM by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after buying an additional 220,035 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of AECOM by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,051 shares of the construction company’s stock valued at $2,296,000 after buying an additional 9,815 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of AECOM during the 3rd quarter valued at about $495,000. 85.41% of the stock is currently owned by institutional investors.

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.