Toronto Dominion Bank Raises Stake in AECOM (NYSE:ACM)

Toronto Dominion Bank raised its holdings in shares of AECOM (NYSE:ACM) by 29.5% during the third quarter, Holdings Channel reports. The fund owned 17,986 shares of the construction company’s stock after buying an additional 4,102 shares during the period. Toronto Dominion Bank’s holdings in AECOM were worth $1,857,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Private Trust Co. NA purchased a new stake in shares of AECOM in the 3rd quarter valued at $30,000. Family Firm Inc. bought a new stake in AECOM in the second quarter worth $31,000. True Wealth Design LLC boosted its position in AECOM by 4,242.9% during the third quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after buying an additional 297 shares during the period. UMB Bank n.a. grew its stake in shares of AECOM by 196.2% during the third quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock valued at $40,000 after buying an additional 257 shares during the last quarter. Finally, Kathleen S. Wright Associates Inc. bought a new position in shares of AECOM during the third quarter valued at about $50,000. 85.41% of the stock is owned by hedge funds and other institutional investors.

AECOM Stock Performance

NYSE:ACM opened at $111.51 on Monday. 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 firm’s fifty day simple moving average is $110.09 and its 200 day simple moving average is $98.87. The stock has a market cap of $14.77 billion, a P/E ratio of 37.67, a price-to-earnings-growth ratio of 1.92 and a beta of 1.17. AECOM has a twelve month low of $82.23 and a twelve month high of $118.56.

AECOM (NYSE:ACM) last announced its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts predict that AECOM will post 5.1 EPS for the current year.

AECOM Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a $0.26 dividend. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 annualized dividend and a dividend yield of 0.93%. This is a positive change from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio is currently 35.14%.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group began coverage on AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price for the company. Truist Financial boosted their price objective on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Citigroup increased their price objective on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Robert W. Baird lifted their target price on shares of AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Finally, StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, AECOM presently has an average rating of “Buy” and a consensus target price of $119.38.

Insider Activity

In other AECOM 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 value of $4,890,416.00. Following the completion of the transaction, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.42% of the stock is currently owned by company insiders.

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.