JPMorgan Chase & Co. Purchases 220,035 Shares of AECOM (NYSE:ACM)

JPMorgan Chase & Co. grew its position in AECOM (NYSE:ACM) by 40.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 768,266 shares of the construction company’s stock after purchasing an additional 220,035 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.58% of AECOM worth $79,339,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its holdings in AECOM by 2,660.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,270 shares of the construction company’s stock valued at $112,000 after acquiring an additional 1,224 shares during the period. Rothschild Investment LLC purchased a new position in AECOM in the 2nd quarter worth approximately $67,000. Commonwealth Equity Services LLC boosted its stake in AECOM by 2.0% in the 2nd quarter. Commonwealth Equity Services LLC now owns 41,538 shares of the construction company’s stock worth $3,661,000 after purchasing an additional 833 shares during the period. TD Asset Management Inc grew its holdings in AECOM by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 12,489 shares of the construction company’s stock valued at $1,101,000 after buying an additional 352 shares in the last quarter. Finally, Impax Asset Management Group plc raised its position in shares of AECOM by 15.5% during the second quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock valued at $154,464,000 after buying an additional 235,350 shares during the last quarter. 85.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ACM has been the subject of a number of research reports. KeyCorp upped their target price on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Citigroup boosted their target price on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird raised their price target on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, The Goldman Sachs Group assumed coverage on AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective on the stock. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average price target of $119.38.

Insider Transactions at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction dated 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 directly owns 31,228 shares in the company, valued at approximately $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 accessible through the SEC website. Company insiders own 0.42% of the company’s stock.

AECOM Stock Down 0.5 %

Shares of ACM opened at $106.30 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56. The company has a market cap of $14.08 billion, a PE ratio of 35.91, a P/E/G ratio of 1.92 and a beta of 1.17. The business has a fifty day moving average of $110.63 and a 200 day moving average of $100.80.

AECOM (NYSE:ACM) last released its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.03. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 EPS. On average, sell-side analysts expect that AECOM will post 5.1 EPS for the current year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid a dividend of $0.26 per share. This is a boost from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.98%. AECOM’s dividend payout ratio is currently 35.14%.

AECOM declared that its Board of Directors has approved 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 repurchase up to 6.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.