Primecap Management Co. CA Sells 1,129,625 Shares of AECOM (NYSE:ACM)

by · The Markets Daily

Primecap Management Co. CA reduced its stake in shares of AECOM (NYSE:ACM – Free Report) by 9.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,381,582 shares of the construction company’s stock after selling 1,129,625 shares during the quarter. Primecap Management Co. CA owned about 0.09% of AECOM worth $1,215,781,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of ACM. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of AECOM by 17.0% during 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 purchasing an additional 289,513 shares during the last quarter. National Bank of Canada FI grew its stake in shares of 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 valued at $28,384,000 after purchasing an additional 260,746 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of AECOM by 40.1% during 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 last quarter. Verition Fund Management LLC lifted its holdings in AECOM by 293.7% in the third quarter. Verition Fund Management LLC now owns 180,602 shares of the construction company’s stock valued at $18,651,000 after buying an additional 134,730 shares during the period. Finally, Flputnam Investment Management Co. lifted its holdings in AECOM by 88.8% in the fourth quarter. Flputnam Investment Management Co. now owns 272,888 shares of the construction company’s stock valued at $29,150,000 after buying an additional 128,346 shares during the period. 85.41% of the stock is owned by institutional investors.

AECOM Trading Up 0.7 %

ACM opened at $95.75 on Tuesday. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The firm’s fifty day moving average is $102.72 and its two-hundred day moving average is $105.30. The firm has a market cap of $12.70 billion, a PE ratio of 27.20, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22.

AECOM (NYSE:ACM – Get Free Report) last issued its quarterly earnings data on Monday, February 3rd. The construction company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. Equities research analysts anticipate that AECOM will post 5.1 EPS for the current year.

AECOM announced that its Board of Directors has approved a share repurchase program on Monday, November 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

AECOM Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.26 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 1.09%. AECOM’s payout ratio is 29.55%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ACM. Citigroup cut their price objective on shares of AECOM from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. 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 report on Friday, November 22nd. Robert W. Baird cut their price objective on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group began coverage on shares of AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, Barclays increased their target price on shares of AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $120.38.

View Our Latest Stock Analysis on AECOM

AECOM Profile

(Free Report)

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.

See Also

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