ProShare Advisors LLC cut its stake in shares of AECOM (NYSE:ACM) by 17.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,770 shares of the construction company’s stock after selling 2,442 shares during the quarter. ProShare Advisors LLC’s holdings in AECOM were worth $381,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. South Dakota Investment Council lifted its holdings in shares of AECOM by 16.5% during the second quarter. South Dakota Investment Council now owns 246,100 shares of the construction company’s stock valued at $7,956,000 after acquiring an additional 34,900 shares during the period. BNP Paribas Arbitrage SA raised its holdings in shares of AECOM by 15.1% in the second quarter. BNP Paribas Arbitrage SA now owns 92,861 shares of the construction company’s stock valued at $3,002,000 after buying an additional 12,167 shares during the last quarter. Commonwealth Bank of Australia raised its holdings in shares of AECOM by 210.0% in the second quarter. Commonwealth Bank of Australia now owns 12,400 shares of the construction company’s stock valued at $400,000 after buying an additional 8,400 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AECOM by 53.7% in the second quarter. JPMorgan Chase & Co. now owns 401,338 shares of the construction company’s stock valued at $12,975,000 after buying an additional 140,274 shares during the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of AECOM by 0.3% in the second quarter. Alliancebernstein L.P. now owns 2,816,118 shares of the construction company’s stock valued at $91,045,000 after buying an additional 7,075 shares during the last quarter. 82.06% of the stock is owned by institutional investors.
In other AECOM news, CEO Michael S. Burke sold 30,000 shares of the stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total value of $1,110,000.00. Following the completion of the transaction, the chief executive officer now directly owns 154,362 shares in the company, valued at $5,711,394. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael S. Burke sold 56,800 shares of the stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $36.86, for a total value of $2,093,648.00. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by company insiders.
A number of research analysts recently issued reports on ACM shares. KeyCorp reaffirmed a “buy” rating and issued a $40.00 price target on shares of AECOM in a report on Friday, August 25th. Zacks Investment Research cut AECOM from a “hold” rating to a “strong sell” rating in a report on Friday, August 11th. Citigroup Inc. set a $40.00 price target on AECOM and gave the company a “buy” rating in a report on Thursday, August 17th. Credit Suisse Group cut AECOM from an “outperform” rating to a “neutral” rating and cut their price target for the company from $44.00 to $37.00 in a report on Monday, July 24th. Finally, UBS AG set a $38.00 price target on AECOM and gave the company a “buy” rating in a report on Monday, June 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $38.80.
Shares of AECOM (ACM) opened at 36.37 on Friday. The company has a 50-day moving average price of $34.08 and a 200-day moving average price of $33.24. AECOM has a 12 month low of $26.46 and a 12 month high of $40.72. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 22.27 and a beta of 1.69.
AECOM (NYSE:ACM) last posted its earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, meeting the consensus estimate of $0.78. The firm had revenue of $4.56 billion during the quarter, compared to the consensus estimate of $4.54 billion. AECOM had a return on equity of 12.19% and a net margin of 1.46%. The business’s quarterly revenue was up 3.5% on a year-over-year basis. During the same period last year, the company earned $0.81 earnings per share. Equities analysts forecast that AECOM will post $2.91 EPS for the current fiscal year.
AECOM declared that its board has approved a stock repurchase plan on Thursday, September 21st that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to repurchase up to 18.3% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
AECOM Company Profile
AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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