Aecom (ACM) Holdings Increased by California Public Employees Retirement System
California Public Employees Retirement System boosted its position in Aecom (NYSE:ACM) by 2.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 312,779 shares of the construction company’s stock after acquiring an additional 8,261 shares during the period. California Public Employees Retirement System owned about 0.20% of Aecom worth $11,513,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Aecom by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,443,021 shares of the construction company’s stock worth $434,613,000 after acquiring an additional 176,473 shares during the period. Dimensional Fund Advisors LP grew its stake in Aecom by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 4,742,824 shares of the construction company’s stock worth $174,587,000 after acquiring an additional 24,471 shares during the period. State Street Corp grew its stake in Aecom by 1.1% in the 2nd quarter. State Street Corp now owns 3,977,619 shares of the construction company’s stock worth $128,599,000 after acquiring an additional 44,044 shares during the period. Alliancebernstein L.P. grew its stake in Aecom by 0.3% in the 2nd quarter. Alliancebernstein L.P. now owns 2,816,118 shares of the construction company’s stock worth $91,045,000 after acquiring an additional 7,075 shares during the period. Finally, Brandywine Global Investment Management LLC grew its stake in Aecom by 8.9% in the 2nd quarter. Brandywine Global Investment Management LLC now owns 1,902,787 shares of the construction company’s stock worth $61,518,000 after acquiring an additional 156,003 shares during the period. 82.36% of the stock is owned by hedge funds and other institutional investors.
Shares of Aecom (NYSE:ACM) opened at $37.46 on Wednesday. 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 12 month low of $30.15 and a 12 month high of $39.50. The stock has a market cap of $5,876.23, a price-to-earnings ratio of 17.50, a PEG ratio of 2.00 and a beta of 1.73.
Aecom (NYSE:ACM) last announced 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 net margin of 1.86% and a return on equity of 12.12%. The firm 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 company earned $0.65 EPS. The firm’s revenue was up 12.3% on a year-over-year basis. sell-side analysts predict that Aecom will post 2.66 earnings per share for the current fiscal year.
Aecom announced that its Board of Directors has authorized a share repurchase plan on Thursday, September 21st that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 18.3% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.
In other news, Director James H. Fordyce sold 4,390 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $38.00, for a total value of $166,820.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Vice Chairman Daniel R. Tishman sold 15,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $38.26, for a total transaction of $573,900.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,190 shares of company stock valued at $4,004,368. 1.14% of the stock is owned by corporate insiders.
Several research firms have commented on ACM. Zacks Investment Research raised shares of Aecom from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. UBS Group reissued a “buy” rating and set a $4.00 price objective (down from $40.00) on shares of Aecom in a research note on Tuesday, November 14th. KeyCorp reissued a “buy” rating on shares of Aecom in a research note on Friday, September 22nd. Argus boosted their price objective on shares of Aecom from $37.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, November 27th. They noted that the move was a valuation call. Finally, Canaccord Genuity reissued a “hold” rating and set a $36.00 price objective on shares of Aecom in a research note on Tuesday, November 14th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $31.30.
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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