Payden & Rygel Has $12.10 Million Stock Position in AECOM (NYSE:ACM)

Payden & Rygel lowered its position in shares of AECOM (NYSE:ACM) by 40.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 117,170 shares of the construction company’s stock after selling 81,100 shares during the quarter. Payden & Rygel’s holdings in AECOM were worth $12,100,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new stake in AECOM during the 1st quarter worth about $25,000. Family Firm Inc. purchased a new position in AECOM during the second quarter valued at approximately $31,000. UMB Bank n.a. increased its stake in AECOM by 196.2% in the 3rd 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 period. Versant Capital Management Inc lifted its position in AECOM by 4,375.0% in the 2nd quarter. Versant Capital Management Inc now owns 537 shares of the construction company’s stock worth $47,000 after buying an additional 525 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. purchased a new position in shares of AECOM during the 3rd quarter valued at $50,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Insiders Place Their Bets

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the business’s 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 sale, the chief financial officer now owns 31,228 shares of the company’s stock, valued at $3,601,837.52. The trade was a 57.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

AECOM Trading Up 0.6 %

Shares of ACM stock opened at $109.48 on Thursday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. AECOM has a 1 year low of $82.23 and a 1 year high of $115.74. The firm’s fifty day simple moving average is $105.19 and its 200 day simple moving average is $95.85. The firm has a market capitalization of $14.68 billion, a P/E ratio of 36.99, a price-to-earnings-growth ratio of 1.61 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 (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same quarter in the previous year, the firm posted $1.01 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts predict that AECOM will post 4.47 EPS for the current year.

AECOM announced that its board has authorized a share buyback plan on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

AECOM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a $0.26 dividend. This is a boost from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. This represents a $1.04 annualized dividend and a yield of 0.95%. AECOM’s dividend payout ratio is 29.73%.

Wall Street Analyst Weigh In

A number of brokerages have commented on ACM. Robert W. Baird boosted their target price on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday. Barclays boosted their target price on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. Citigroup increased their target price on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Truist Financial raised their price objective on AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Finally, StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Eight equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AECOM has a consensus rating of “Buy” and an average target price of $116.43.

About AECOM

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.