Sumitomo Mitsui Trust Group Inc. Boosts Stock Position in AECOM (NYSE:ACM)

Sumitomo Mitsui Trust Group Inc. raised its holdings in AECOM (NYSE:ACM) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 258,680 shares of the construction company’s stock after acquiring an additional 12,224 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in AECOM were worth $26,714,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ninety One UK Ltd bought a new position in shares of AECOM in the second quarter worth about $46,109,000. International Assets Investment Management LLC bought a new position in AECOM in the 3rd quarter worth about $42,201,000. DekaBank Deutsche Girozentrale increased its position in shares of AECOM by 451.9% during the first quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company’s stock worth $47,617,000 after acquiring an additional 394,481 shares during the period. Bank of New York Mellon Corp raised its stake in shares of AECOM by 18.8% during the second 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 acquiring an additional 258,250 shares in the last quarter. Finally, Impax Asset Management Group plc boosted its holdings in shares of AECOM by 15.5% in the second quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock valued at $154,464,000 after purchasing an additional 235,350 shares during the period. Hedge funds and other institutional investors own 85.41% of the company’s stock.

AECOM Stock Performance

ACM stock opened at $106.93 on Friday. AECOM has a one year low of $82.23 and a one year high of $115.74. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 57.49, a PEG ratio of 1.69 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13. The firm has a 50-day simple moving average of $104.62 and a two-hundred day simple moving average of $95.63.

AECOM Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Investors of record on Wednesday, October 2nd were given a dividend of $0.22 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $0.88 dividend on an annualized basis and a yield of 0.82%. AECOM’s payout ratio is 47.31%.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction on Wednesday, November 6th. The stock was 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 owns 31,228 shares in the company, valued at approximately $3,601,837.52. This represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.42% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ACM has been the topic of several research reports. KeyCorp raised their price objective on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Barclays raised their price target on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. Truist Financial upped their price objective on shares of AECOM from $108.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Royal Bank of Canada raised their target price on shares of AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Robert W. Baird boosted their price target on shares of AECOM from $96.00 to $100.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $113.29.

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.