Bank of New York Mellon Corp Sells 36,261 Shares of AECOM (NYSE:ACM)

Bank of New York Mellon Corp trimmed its holdings in shares of AECOM (NYSE:ACM) by 2.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,492,590 shares of the construction company’s stock after selling 36,261 shares during the quarter. Bank of New York Mellon Corp’s holdings in AECOM were worth $159,438,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Franklin Resources Inc. increased its stake in AECOM by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 6,162 shares of the construction company’s stock worth $655,000 after purchasing an additional 91 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of AECOM by 1.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock worth $977,000 after acquiring an additional 103 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of AECOM by 1.4% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,830 shares of the construction company’s stock worth $809,000 after acquiring an additional 109 shares in the last quarter. Avitas Wealth Management LLC grew its stake in shares of AECOM by 0.6% during the 4th quarter. Avitas Wealth Management LLC now owns 18,939 shares of the construction company’s stock worth $2,023,000 after acquiring an additional 110 shares in the last quarter. Finally, Principal Securities Inc. grew its stake in shares of AECOM by 95.9% during the 4th quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock worth $25,000 after acquiring an additional 116 shares in the last quarter. 85.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. KeyCorp decreased their price target on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Citigroup decreased their price target on shares of AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Truist Financial raised their price target on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group began 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. Finally, Barclays raised their target price on shares of AECOM from $105.00 to $120.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, AECOM presently has a consensus rating of “Buy” and an average target price of $120.38.

AECOM Price Performance

NYSE:ACM opened at $100.18 on Friday. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.02. The firm has a fifty day simple moving average of $105.54 and a 200 day simple moving average of $105.33. The stock has a market capitalization of $13.29 billion, a PE ratio of 28.46, a P/E/G ratio of 1.63 and a beta of 1.19.

AECOM (NYSE:ACM) last announced its quarterly 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 return on equity of 26.84% and a net margin of 2.93%. On average, research analysts expect that AECOM will post 5.1 EPS for the current fiscal year.

AECOM announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

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.