The Manufacturers Life Insurance Company Lowers Stake in AECOM (NYSE:ACM)

The Manufacturers Life Insurance Company cut its holdings in AECOM (NYSE:ACM) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 115,250 shares of the construction company’s stock after selling 2,252 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in AECOM were worth $10,158,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in AECOM in the 1st quarter valued at about $25,000. Ables Iannone Moore & Associates Inc. acquired a new position in shares of AECOM in the fourth quarter valued at approximately $28,000. Creekmur Asset Management LLC purchased a new stake in shares of AECOM during the fourth quarter worth approximately $28,000. Rise Advisors LLC acquired a new stake in shares of AECOM during the first quarter worth $31,000. Finally, Family Firm Inc. purchased a new position in AECOM in the 2nd quarter valued at $31,000. 85.41% of the stock is owned by hedge funds and other institutional investors.

AECOM Price Performance

ACM stock opened at $102.57 on Friday. The firm has a 50 day moving average of $96.99 and a 200-day moving average of $92.99. The company has a market cap of $13.96 billion, a price-to-earnings ratio of -1,139.67, a PEG ratio of 1.70 and a beta of 1.17. 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 12-month low of $74.40 and a 12-month high of $104.63.

AECOM (NYSE:ACM) last issued its quarterly earnings data on Monday, August 5th. The construction company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.04. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $1.85 billion. AECOM had a return on equity of 24.14% and a net margin of 1.61%. AECOM’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.94 earnings per share. As a group, equities analysts expect that AECOM will post 4.46 EPS for the current fiscal year.

AECOM Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 18th. Investors of record on Wednesday, October 2nd will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a $0.88 annualized dividend and a dividend yield of 0.86%. AECOM’s dividend payout ratio is presently -977.78%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial restated a “buy” rating and set a $108.00 price objective (up previously from $107.00) on shares of AECOM in a research report on Wednesday, August 7th. Barclays increased their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Robert W. Baird lifted their price objective on AECOM from $96.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Citigroup dropped their target price on AECOM from $116.00 to $104.00 and set a “buy” rating on the stock in a research report on Monday, July 22nd. Finally, KeyCorp raised their price target on AECOM from $94.00 to $99.00 and gave the company an “overweight” rating in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM currently has an average rating of “Buy” and a consensus price target of $105.00.

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.