Wells Fargo & Company MN Raises Position in Aecom (ACM)
Wells Fargo & Company MN raised its stake in Aecom (NYSE:ACM) by 3.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 326,329 shares of the construction company’s stock after buying an additional 10,975 shares during the quarter. Wells Fargo & Company MN owned approximately 0.21% of Aecom worth $12,013,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Crow Point Partners LLC purchased a new stake in Aecom in the 3rd quarter valued at $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Aecom by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after buying an additional 576 shares in the last quarter. GAM Holding AG purchased a new stake in Aecom in the 2nd quarter valued at $194,000. CIBC Asset Management Inc purchased a new stake in Aecom in the 3rd quarter valued at $204,000. Finally, ING Groep NV purchased a new stake in Aecom in the 3rd quarter valued at $224,000. Institutional investors own 82.36% of the company’s stock.
In related news, CEO Michael S. Burke sold 30,000 shares of the stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.00, for a total transaction of $1,170,000.00. Following the transaction, the chief executive officer now owns 157,649 shares of the company’s stock, valued at approximately $6,148,311. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael S. Burke sold 56,800 shares of the stock in a transaction dated Thursday, October 5th. The stock was 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. In the last three months, insiders have sold 136,190 shares of company stock worth $5,114,368. 0.73% of the stock is owned by corporate insiders.
Aecom (NYSE ACM) opened at $37.28 on Monday. The firm has a market capitalization of $5,880.00, a price-to-earnings ratio of 17.50, a PEG ratio of 1.99 and a beta of 1.73. The company has a current ratio of 1.20, a quick ratio of 1.20 and a debt-to-equity ratio of 0.88. Aecom has a twelve month low of $30.15 and a twelve month high of $39.50.
Aecom (NYSE:ACM) last released its quarterly earnings results on Monday, November 13th. The construction company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the business posted $0.65 EPS. The company’s revenue was up 12.3% compared to the same quarter last year. research analysts predict that Aecom will post 2.66 earnings per share for the current year.
Aecom declared that its board has initiated a stock buyback program on Thursday, September 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to reacquire up to 18.3% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s management believes its shares are undervalued.
ACM has been the subject of a number of research analyst reports. KeyCorp reiterated a “buy” rating on shares of Aecom in a report on Friday, September 22nd. Argus increased their price target on 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. DA Davidson reiterated a “hold” rating and set a $39.00 price target on shares of Aecom in a report on Tuesday, November 14th. Canaccord Genuity reiterated a “hold” rating and set a $36.00 price target on shares of Aecom in a report on Tuesday, November 14th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $38.00 price target (up from $36.00) on shares of Aecom in a report on Friday, September 22nd. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $31.30.
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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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