AECOM (NYSE:ACM) Declares Share Buyback Program

AECOM (NYSE:ACM) declared that its Board of Directors has initiated a share repurchase program on Monday, November 18th, RTT News reports. The company plans to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ACM shares. KeyCorp raised their price objective on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird upped their price objective on AECOM from $96.00 to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Barclays raised their target price on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Citigroup upped 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. Finally, Truist Financial increased their price target on shares of AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a report on Friday, October 4th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $113.29.

AECOM Trading Up 2.1 %

NYSE:ACM opened at $109.19 on Tuesday. AECOM has a 52-week low of $82.23 and a 52-week high of $115.74. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.98. The stock has a fifty day simple moving average of $104.62 and a 200-day simple moving average of $95.65. The company has a market capitalization of $14.64 billion, a PE ratio of 58.47, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17.

AECOM Increases Dividend

The firm also recently disclosed 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 represents a $1.04 dividend on an annualized basis and a dividend yield of 0.95%. This is a boost from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio (DPR) is 47.31%.

Insider Buying and Selling

In related news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction 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 of the company’s stock, valued at $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.42% 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.