Kovitz Investment Group Partners LLC Acquires New Holdings in AECOM (NYSE:ACM)

Kovitz Investment Group Partners LLC acquired a new stake in AECOM (NYSE:ACM) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 2,990 shares of the construction company’s stock, valued at approximately $309,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. lifted its stake in AECOM by 1.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock valued at $977,000 after purchasing an additional 103 shares during the last quarter. Fifth Third Bancorp lifted its stake in AECOM by 6.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock valued at $159,000 after purchasing an additional 114 shares during the last quarter. CIBC Asset Management Inc lifted its stake in AECOM by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after purchasing an additional 132 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in AECOM by 4.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after purchasing an additional 138 shares during the last quarter. Finally, Nilsine Partners LLC raised its stake in shares of AECOM by 1.1% during the second quarter. Nilsine Partners LLC now owns 13,981 shares of the construction company’s stock valued at $1,232,000 after acquiring an additional 152 shares during the last quarter. Institutional investors own 85.41% of the company’s stock.

AECOM Trading Down 0.5 %

ACM opened at $111.52 on Friday. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $110.09 and a 200-day moving average of $98.69. The stock has a market cap of $14.77 billion, a PE ratio of 37.68, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17.

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

AECOM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a $0.26 dividend. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.93%. The ex-dividend date is Thursday, January 2nd. AECOM’s payout ratio is 29.73%.

AECOM announced that its board has approved a stock repurchase program on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ACM shares. The Goldman Sachs Group started coverage on shares of AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Truist Financial raised their price target on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup raised their price target on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note 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 research note on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $119.38.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction on 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 completion of the sale, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at approximately $3,601,837.52. The trade was 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 this hyperlink. Insiders own 0.42% of the company’s stock.

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.