AECOM (NYSE:ACM) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC raised its holdings in shares of AECOM (NYSE:ACM) by 293.7% in the 3rd quarter, Holdings Channel reports. The firm owned 180,602 shares of the construction company’s stock after purchasing an additional 134,730 shares during the quarter. Verition Fund Management LLC’s holdings in AECOM were worth $18,651,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of ACM. Ninety One UK Ltd acquired a new stake in AECOM during the second quarter worth about $46,109,000. International Assets Investment Management LLC bought a new position in shares of AECOM during the third quarter valued at approximately $42,201,000. DekaBank Deutsche Girozentrale raised its position in shares of AECOM by 67.8% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock worth $71,897,000 after purchasing an additional 326,423 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of AECOM by 17.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,989,238 shares of the construction company’s stock worth $205,429,000 after purchasing an additional 289,513 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in AECOM by 18.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock valued at $143,573,000 after purchasing an additional 258,250 shares during the period. 85.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ACM shares. KeyCorp boosted their price target on shares of AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Barclays lifted their price target on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird boosted their price objective on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 19th. Finally, The Goldman Sachs Group began coverage on AECOM in a research report on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price on the stock. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, AECOM has an average rating of “Buy” and a consensus target price of $119.38.

AECOM Stock Performance

Shares of NYSE ACM opened at $117.01 on Friday. AECOM has a 1 year low of $82.23 and a 1 year high of $118.56. The firm has a market cap of $15.50 billion, a P/E ratio of 39.53, a PEG ratio of 1.99 and a beta of 1.17. The stock has a fifty day moving average price of $107.91 and a two-hundred day moving average price of $97.04. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13.

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 the consensus estimate of $1.24 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. Research analysts forecast that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be paid 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 0.89%. This is a boost from AECOM’s previous quarterly dividend of $0.22. AECOM’s payout ratio is currently 29.73%.

AECOM announced that its Board of Directors has approved a share repurchase plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

Insider Buying and Selling

In related news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the sale, the chief financial officer now directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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.