Park Avenue Securities LLC Increases Holdings in AECOM (NYSE:ACM)

Park Avenue Securities LLC increased its stake in shares of AECOM (NYSE:ACM) by 176.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,239 shares of the construction company’s stock after acquiring an additional 4,625 shares during the period. Park Avenue Securities LLC’s holdings in AECOM were worth $773,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new position in AECOM in the 3rd quarter valued at about $42,201,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in AECOM by 17.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock valued at $205,429,000 after buying an additional 289,513 shares during the last quarter. National Bank of Canada FI boosted its stake in AECOM by 1,847.8% during the third quarter. National Bank of Canada FI now owns 274,857 shares of the construction company’s stock worth $28,384,000 after buying an additional 260,746 shares during the period. JPMorgan Chase & Co. raised its position in AECOM by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock valued at $79,339,000 after purchasing an additional 220,035 shares during the period. Finally, AQR Capital Management LLC increased its stake in AECOM by 81.0% during the second quarter. AQR Capital Management LLC now owns 362,817 shares of the construction company’s stock worth $31,979,000 after purchasing an additional 162,416 shares during the period. 85.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACM. Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Robert W. Baird increased their price objective on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. The Goldman Sachs Group started coverage on AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 target price for the company. Finally, KeyCorp cut their price target on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Nine investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, AECOM has an average rating of “Buy” and a consensus target price of $119.25.

Insider Activity at AECOM

In related news, CFO Gaurav Kapoor sold 42,400 shares of the firm’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 sale, the chief financial officer now directly owns 31,228 shares in the company, valued at $3,601,837.52. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

AECOM Price Performance

AECOM stock opened at $110.97 on Wednesday. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. The stock has a market capitalization of $14.70 billion, a P/E ratio of 37.49, a P/E/G ratio of 1.86 and a beta of 1.19. The firm’s 50-day moving average is $110.42 and its two-hundred day moving average is $102.64. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.03. The business had revenue of $1.81 billion for 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 company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company earned $1.01 earnings per share. Equities analysts predict that AECOM will post 5.08 earnings per share for the current year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Thursday, January 2nd. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.94%. AECOM’s dividend payout ratio (DPR) is currently 35.14%.

AECOM announced that its Board of Directors has approved a share repurchase plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board 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.