AGF Management Ltd. Buys 5,660 Shares of AECOM (NYSE:ACM)

AGF Management Ltd. increased its stake in shares of AECOM (NYSE:ACM) by 0.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 871,893 shares of the construction company’s stock after purchasing an additional 5,660 shares during the quarter. AGF Management Ltd.’s holdings in AECOM were worth $93,136,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Ranch Capital Advisors Inc. boosted its position in AECOM by 2.3% during the 4th quarter. Ranch Capital Advisors Inc. now owns 4,482 shares of the construction company’s stock worth $479,000 after buying an additional 99 shares during the period. Daiwa Securities Group Inc. lifted its position in shares of AECOM by 50.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 60,900 shares of the construction company’s stock worth $6,505,000 after purchasing an additional 20,500 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in AECOM by 4.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 77,023 shares of the construction company’s stock worth $8,228,000 after buying an additional 3,075 shares during the last quarter. AlphaQuest LLC grew its holdings in AECOM by 401.9% during the 4th quarter. AlphaQuest LLC now owns 33,047 shares of the construction company’s stock worth $3,530,000 after acquiring an additional 26,462 shares during the period. Finally, OFI Invest Asset Management acquired a new stake in AECOM during the fourth quarter worth approximately $1,649,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ACM has been the topic of several research reports. Barclays upped their price objective on shares of AECOM from $105.00 to $120.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird decreased their price objective on AECOM from $125.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. KeyCorp cut their target price on AECOM from $122.00 to $121.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Truist Financial boosted their target price on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Citigroup decreased their price objective on AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a report on Wednesday, January 29th. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $120.38.

AECOM Stock Performance

AECOM stock opened at $96.01 on Tuesday. The firm has a market capitalization of $12.73 billion, a PE ratio of 27.28, a price-to-earnings-growth ratio of 1.63 and a beta of 1.22. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The firm’s 50 day simple moving average is $103.95 and its 200 day simple moving average is $105.48. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02.

AECOM (NYSE:ACM) last announced its earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. As a group, analysts expect that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Shareholders of record on Wednesday, April 2nd will be given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Wednesday, April 2nd. AECOM’s payout ratio is currently 29.55%.

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

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.