Dynamic Technology Lab Private Ltd Takes Position in AECOM (NYSE:ACM)

Dynamic Technology Lab Private Ltd acquired a new position in AECOM (NYSE:ACM) in the 3rd quarter, HoldingsChannel reports. The fund acquired 13,185 shares of the construction company’s stock, valued at approximately $1,362,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ninety One UK Ltd purchased a new position in shares of AECOM in the second quarter worth about $46,109,000. International Assets Investment Management LLC purchased a new position in AECOM in the 3rd quarter valued at approximately $42,201,000. DekaBank Deutsche Girozentrale raised its holdings in AECOM by 451.9% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company’s stock valued at $47,617,000 after acquiring an additional 394,481 shares during the period. Bank of New York Mellon Corp lifted its position in shares of AECOM by 18.8% during the second quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock worth $143,573,000 after acquiring an additional 258,250 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in shares of AECOM by 15.5% in the second quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock worth $154,464,000 after acquiring an additional 235,350 shares during the period. 85.41% of the stock is currently owned by institutional investors.

AECOM Stock Performance

NYSE ACM opened at $116.74 on Wednesday. AECOM has a 52-week low of $82.23 and a 52-week high of $118.12. The company has a fifty day moving average of $106.53 and a 200-day moving average of $96.42. The company has a market capitalization of $15.46 billion, a P/E ratio of 39.44, a P/E/G ratio of 1.98 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13.

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

AECOM announced that its Board of Directors has authorized a stock 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 purchase up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

AECOM Increases Dividend

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

Insiders Place Their Bets

In other news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The sale 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.

Analysts Set New Price Targets

A number of analysts recently issued reports on ACM shares. Robert W. Baird boosted their price objective on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Truist Financial upped their price target on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research 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. Citigroup upped their target price on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Finally, KeyCorp raised their price target on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $119.38.

AECOM 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.