KeyCorp Cuts AECOM (NYSE:ACM) Price Target to $121.00

AECOM (NYSE:ACM) had its price objective decreased by KeyCorp from $122.00 to $121.00 in a report issued on Wednesday,Benzinga reports. KeyCorp currently has an overweight rating on the construction company’s stock.

A number of other brokerages have also recently commented on ACM. Truist Financial raised their price target on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. 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 report on Tuesday, November 19th. Citigroup upped their price target on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. The Goldman Sachs Group assumed coverage on shares of AECOM in a research note on Friday, November 22nd. They issued a “buy” rating and a $130.00 price objective on the stock. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, AECOM currently has a consensus rating of “Buy” and an average price target of $119.25.

AECOM Stock Performance

NYSE ACM opened at $105.94 on Wednesday. The firm has a 50-day moving average price of $110.70 and a two-hundred day moving average price of $101.44. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56. The company has a market capitalization of $14.03 billion, a P/E ratio of 35.79, a P/E/G ratio of 1.92 and a beta of 1.19. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03.

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

AECOM Increases Dividend

The business 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. The ex-dividend date of this dividend is Thursday, January 2nd. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. AECOM’s dividend payout ratio is 35.14%.

AECOM announced that its Board of Directors has authorized a share 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 reacquire up to 6.8% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction on 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 transaction, the chief financial officer now owns 31,228 shares in the company, valued at approximately $3,601,837.52. The trade was a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Barrow Hanley Mewhinney & Strauss LLC lifted its position in shares of AECOM by 5.5% in the 2nd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,339,185 shares of the construction company’s stock worth $206,176,000 after purchasing an additional 122,015 shares during the period. Geode Capital Management LLC raised its stake in AECOM by 0.6% during the third quarter. Geode Capital Management LLC now owns 2,270,408 shares of the construction company’s stock worth $233,918,000 after buying an additional 14,511 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in AECOM by 17.0% in the third 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 valued at $205,429,000 after buying an additional 289,513 shares during the period. DekaBank Deutsche Girozentrale boosted its position in AECOM by 67.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock valued at $71,897,000 after acquiring an additional 326,423 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of AECOM by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after acquiring an additional 220,035 shares in 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.