AECOM (NYSE:ACM) Hits New 52-Week High – What’s Next?

AECOM (NYSE:ACM) reached a new 52-week high on Thursday . The stock traded as high as $118.56 and last traded at $116.74, with a volume of 1268474 shares. The stock had previously closed at $116.74.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Truist Financial upped their target price on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Royal Bank of Canada upped their target price on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. Barclays upped their target price on AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a research note on Thursday, August 8th. Citigroup upped their target price on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Robert W. Baird upped their target price on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 19th. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, AECOM presently has a consensus rating of “Buy” and a consensus target price of $119.38.

AECOM Stock Up 0.2 %

The firm has a market capitalization of $15.50 billion, a price-to-earnings ratio of 39.53, a P/E/G ratio of 1.99 and a beta of 1.17. The stock has a fifty day moving average of $107.91 and a two-hundred day moving average of $97.04. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13.

AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. AECOM’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $1.01 earnings per share. Sell-side analysts anticipate that AECOM will post 5.1 earnings per share for the current year.

AECOM Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is presently 29.73%.

AECOM announced that its Board of Directors has authorized a share buyback program on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to purchase up to 6.8% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated 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 directly owns 31,228 shares in the company, valued at approximately $3,601,837.52. This trade represents a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.42% of the company’s stock.

Hedge Funds Weigh In On AECOM

A number of institutional investors and hedge funds have recently made changes to their positions in ACM. Ninety One UK Ltd bought a new position in shares of AECOM during the 2nd quarter worth about $46,109,000. International Assets Investment Management LLC bought a new position in shares of AECOM during the 3rd quarter worth about $42,201,000. DekaBank Deutsche Girozentrale boosted 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of AECOM by 17.0% during 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 in the last quarter. Finally, National Bank of Canada FI boosted its position in shares of AECOM by 1,847.8% during the 3rd quarter. National Bank of Canada FI now owns 274,857 shares of the construction company’s stock worth $28,384,000 after purchasing an additional 260,746 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.

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.