Convergence Investment Partners LLC boosted its stake in shares of Aecom (NYSE:ACM) by 306.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 36,938 shares of the construction company’s stock after buying an additional 27,857 shares during the quarter. Convergence Investment Partners LLC’s holdings in Aecom were worth $1,360,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Crow Point Partners LLC bought a new stake in Aecom during the 3rd quarter worth approximately $102,000. Global X Management Co. LLC boosted its stake in shares of Aecom by 220.7% in the 2nd quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock worth $159,000 after buying an additional 3,388 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Aecom by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after purchasing an additional 576 shares during the last quarter. GAM Holding AG purchased a new position in Aecom in the second quarter valued at approximately $194,000. Finally, CIBC Asset Management Inc purchased a new position in Aecom in the third quarter valued at approximately $204,000. 82.39% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Aecom from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. UBS reaffirmed a “buy” rating and issued a $4.00 price target (down previously from $40.00) on shares of Aecom in a report on Tuesday, November 14th. KeyCorp reaffirmed a “buy” rating on shares of Aecom in a report on Friday, September 22nd. Argus upped their price target on shares of Aecom from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Monday, November 27th. They noted that the move was a valuation call. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $36.00 price target on shares of Aecom in a report on Tuesday, November 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. Aecom has an average rating of “Hold” and an average price target of $32.70.
Aecom (NYSE ACM) opened at $37.88 on Thursday. The company has a market capitalization of $5,909.33, a price-to-earnings ratio of 12.75, a P/E/G ratio of 2.01 and a beta of 1.73. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Aecom has a 12 month low of $30.15 and a 12 month high of $40.72.
Aecom (NYSE:ACM) last released its earnings results on Monday, November 13th. The construction company reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.03. Aecom had a return on equity of 12.12% and a net margin of 1.86%. The business had revenue of $4.86 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the prior year, the firm earned $0.65 earnings per share. The firm’s revenue was up 12.3% on a year-over-year basis. equities analysts forecast that Aecom will post 2.66 EPS for the current year.
Aecom announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to reacquire up to 18.3% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.
In other Aecom news, CEO Michael S. Burke sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the completion of the transaction, the chief executive officer now owns 154,362 shares of the company’s stock, valued at $5,711,394. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael S. Burke sold 56,800 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $36.86, for a total transaction of $2,093,648.00. The disclosure for this sale can be found here. Corporate insiders own 0.73% of the company’s stock.
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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