Principal Financial Group Inc. Lowers Stock Holdings in AECOM (NYSE:ACM)

Principal Financial Group Inc. reduced its position in AECOM (NYSE:ACM) by 1.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 307,339 shares of the construction company’s stock after selling 3,250 shares during the quarter. Principal Financial Group Inc.’s holdings in AECOM were worth $32,830,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ACM. Geode Capital Management LLC grew its holdings in shares of AECOM by 0.6% in the third quarter. Geode Capital Management LLC now owns 2,270,408 shares of the construction company’s stock valued at $233,918,000 after purchasing an additional 14,511 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in AECOM by 17.0% in 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 valued at $205,429,000 after buying an additional 289,513 shares during the period. JPMorgan Chase & Co. grew its stake 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 worth $79,339,000 after acquiring an additional 220,035 shares in the last quarter. Citigroup Inc. increased its position in shares of AECOM by 5.7% during the third quarter. Citigroup Inc. now owns 585,174 shares of the construction company’s stock worth $60,431,000 after acquiring an additional 31,299 shares during the period. Finally, International Assets Investment Management LLC acquired a new stake in shares of AECOM in the third quarter valued at $42,201,000. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on ACM shares. Barclays boosted their target price on AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. KeyCorp lowered their price objective on AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Truist Financial lifted their price target on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Robert W. Baird dropped their price objective on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $120.38.

AECOM Price Performance

Shares of NYSE:ACM opened at $97.49 on Friday. AECOM has a 12 month low of $82.23 and a 12 month high of $118.56. The firm has a market capitalization of $12.93 billion, a P/E ratio of 27.70, a P/E/G ratio of 1.69 and a beta of 1.19. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The company’s fifty day moving average price is $106.46 and its 200 day moving average price is $105.24.

AECOM (NYSE:ACM) last announced its earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. As a group, sell-side analysts predict that AECOM will post 5.1 earnings per share for the current fiscal year.

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

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.