OFI Invest Asset Management Makes New Investment in AECOM (NYSE:ACM)

OFI Invest Asset Management bought a new position in shares of AECOM (NYSE:ACM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,984 shares of the construction company’s stock, valued at approximately $1,649,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ACM. Franklin Resources Inc. raised its stake in AECOM by 1.5% during the third quarter. Franklin Resources Inc. now owns 6,162 shares of the construction company’s stock worth $655,000 after purchasing an additional 91 shares during the period. PNC Financial Services Group Inc. raised its stake in AECOM by 1.1% during the third quarter. PNC Financial Services Group Inc. now owns 9,459 shares of the construction company’s stock worth $977,000 after purchasing an additional 103 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in AECOM by 1.4% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 7,830 shares of the construction company’s stock worth $809,000 after purchasing an additional 109 shares during the period. Avitas Wealth Management LLC raised its stake in AECOM by 0.6% during the fourth quarter. Avitas Wealth Management LLC now owns 18,939 shares of the construction company’s stock worth $2,023,000 after purchasing an additional 110 shares during the period. Finally, Principal Securities Inc. raised its stake in AECOM by 95.9% during the fourth quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock worth $25,000 after purchasing an additional 116 shares during the period. 85.41% of the stock is currently owned by institutional investors and hedge funds.

AECOM Price Performance

Shares of ACM stock opened at $97.02 on Monday. The firm has a market cap of $12.87 billion, a P/E ratio of 27.56, a P/E/G ratio of 1.63 and a beta of 1.22. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The firm has a fifty day moving average of $104.17 and a two-hundred day moving average of $105.48.

AECOM (NYSE:ACM) last announced its quarterly earnings data on Monday, February 3rd. The construction company reported $1.31 earnings per share for the quarter, topping 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, research analysts anticipate that AECOM will post 5.1 earnings per share for the current fiscal year.

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

AECOM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 17th. Stockholders of record on Wednesday, April 2nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 1.07%. The ex-dividend date of this dividend is Wednesday, April 2nd. AECOM’s dividend payout ratio (DPR) is presently 29.55%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Truist Financial increased 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. Citigroup cut their target price on shares of AECOM from $128.00 to $127.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. 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. The Goldman Sachs Group assumed coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price on the stock. Finally, Robert W. Baird lowered their price target on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating for the company in a report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $120.38.

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.