Nordea Investment Management AB Sells 68,902 Shares of AECOM (NYSE:ACM)

Nordea Investment Management AB decreased its position in shares of AECOM (NYSE:ACM) by 32.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 142,531 shares of the construction company’s stock after selling 68,902 shares during the period. Nordea Investment Management AB owned 0.11% of AECOM worth $15,281,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Everence Capital Management Inc. bought a new stake in AECOM during the 4th quarter valued at approximately $458,000. GAMMA Investing LLC lifted its holdings in shares of AECOM by 35.3% during the fourth quarter. GAMMA Investing LLC now owns 1,528 shares of the construction company’s stock worth $163,000 after buying an additional 399 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AECOM by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock valued at $79,339,000 after acquiring an additional 220,035 shares during the period. Oddo BHF Asset Management Sas acquired a new stake in shares of AECOM in the third quarter worth $2,928,000. Finally, Franklin Resources Inc. increased its position 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 acquiring an additional 91 shares during the period. 85.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on ACM. Robert W. Baird increased their price target on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Citigroup increased their target price on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. The Goldman Sachs Group began coverage on AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 price target on the stock. Truist Financial raised their price objective on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $119.25.

AECOM Price Performance

Shares of ACM stock opened at $107.18 on Thursday. The stock’s fifty day simple moving average is $110.69 and its 200 day simple moving average is $101.36. AECOM has a one year low of $82.23 and a one year high of $118.56. The firm has a market cap of $14.20 billion, a price-to-earnings ratio of 36.21, a P/E/G ratio of 1.92 and a beta of 1.19. 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 issued its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.24 by $0.03. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.01 EPS. On average, analysts expect that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM Increases Dividend

The company also recently disclosed 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 is a positive change from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.04 annualized dividend and a dividend yield of 0.97%. AECOM’s dividend payout ratio (DPR) is presently 35.14%.

AECOM declared that its board has initiated a stock repurchase program on Monday, November 18th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insider Activity

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the sale, the chief financial officer now owns 31,228 shares of the company’s stock, valued at $3,601,837.52. This represents a 57.59 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.42% of the stock is currently owned by corporate insiders.

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.