AECOM (NYSE:ACM) Price Target Raised to $129.00 at Truist Financial

AECOM (NYSE:ACM) had its price objective raised by Truist Financial from $119.00 to $129.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the construction company’s stock.

Several other research analysts have also issued reports on ACM. Citigroup increased their price target 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. KeyCorp lifted their price target on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a report on Wednesday, August 7th. Robert W. Baird raised their target price on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. Finally, The Goldman Sachs Group began coverage on AECOM in a research report on Friday. They issued a “buy” rating and a $130.00 price target on the stock. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, AECOM currently has an average rating of “Buy” and an average price target of $119.38.

AECOM Stock Performance

ACM opened at $116.89 on Friday. The stock has a 50-day moving average of $106.16 and a 200-day moving average of $96.25. 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 has a 52-week low of $82.23 and a 52-week high of $118.12. The company has a market cap of $15.48 billion, a PE ratio of 39.29, a price-to-earnings-growth ratio of 1.98 and a beta of 1.17.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The firm had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the firm posted $1.01 EPS. The company’s revenue was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM announced that its board has authorized a stock repurchase 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 purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign 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. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio is 29.73%.

Insider Activity

In related news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s 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 transaction, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ACM. EntryPoint Capital LLC acquired a new stake in AECOM in the first quarter worth $25,000. Private Trust Co. NA bought a new position in shares of AECOM in the third quarter valued at approximately $30,000. True Wealth Design LLC lifted its stake in AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after acquiring an additional 297 shares in the last quarter. Family Firm Inc. purchased a new position in AECOM during the second quarter worth about $31,000. Finally, UMB Bank n.a. boosted its stake in shares of AECOM by 196.2% in the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after buying an additional 257 shares during the last quarter. 85.41% of the stock is owned by institutional investors.

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.