AECOM (NYSE:ACM) Sets New 52-Week High – Time to Buy?

AECOM (NYSE:ACM)’s stock price reached a new 52-week high on Thursday . The company traded as high as $118.56 and last traded at $116.74, with a volume of 1268474 shares trading hands. The stock had previously closed at $116.74.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ACM. Barclays lifted their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Robert W. Baird lifted their price target 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. Citigroup lifted their price target on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group began coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 price target for the company. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM presently has an average rating of “Buy” and a consensus price target of $119.38.

AECOM Stock Performance

The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The company has a market cap of $15.46 billion, a PE ratio of 39.44, a P/E/G ratio of 1.99 and a beta of 1.17. The business’s fifty day moving average is $106.92 and its 200-day moving average is $96.59.

AECOM (NYSE:ACM) last posted its quarterly earnings data 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. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.01 earnings per share. As a group, research analysts predict that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Increases Dividend

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

AECOM declared that its Board of Directors has authorized a stock repurchase plan on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 6.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AECOM

Several hedge funds have recently modified their holdings of ACM. EntryPoint Capital LLC purchased a new position in shares of AECOM in the first quarter worth $25,000. Price T Rowe Associates Inc. MD lifted its holdings in shares of AECOM by 7.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock worth $8,564,000 after buying an additional 6,003 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of AECOM by 5.7% in the first quarter. California State Teachers Retirement System now owns 239,283 shares of the construction company’s stock worth $23,469,000 after buying an additional 12,944 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of AECOM by 29.1% in the first quarter. Tidal Investments LLC now owns 6,846 shares of the construction company’s stock worth $671,000 after buying an additional 1,544 shares in the last quarter. Finally, Plato Investment Management Ltd purchased a new position in shares of AECOM in the first quarter worth $741,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

AECOM Company 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.