PNC Financial Services Group Inc. Buys 103 Shares of AECOM (NYSE:ACM)

PNC Financial Services Group Inc. lifted its position in AECOM (NYSE:ACM) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 9,459 shares of the construction company’s stock after purchasing an additional 103 shares during the period. PNC Financial Services Group Inc.’s holdings in AECOM were worth $977,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ninety One UK Ltd bought a new stake in AECOM in the second quarter valued at approximately $46,109,000. International Assets Investment Management LLC bought a new stake in shares of AECOM in the 3rd quarter valued at $42,201,000. DekaBank Deutsche Girozentrale increased its position in shares of AECOM by 451.9% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 481,769 shares of the construction company’s stock valued at $47,617,000 after buying an additional 394,481 shares in the last quarter. Bank of New York Mellon Corp raised its stake in AECOM by 18.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock worth $143,573,000 after buying an additional 258,250 shares during the period. Finally, Impax Asset Management Group plc lifted its holdings in AECOM by 15.5% during the second quarter. Impax Asset Management Group plc now owns 1,752,487 shares of the construction company’s stock worth $154,464,000 after acquiring an additional 235,350 shares in the last quarter. Institutional investors own 85.41% of the company’s stock.

Insiders Place Their Bets

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total value of $4,890,416.00. Following the completion of the sale, the chief financial officer now owns 31,228 shares in the company, valued at $3,601,837.52. This trade represents a 57.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.42% of the company’s stock.

AECOM Stock Performance

Shares of ACM stock opened at $116.74 on Thursday. AECOM has a 12 month low of $82.23 and a 12 month high of $118.56. The company’s fifty day simple moving average is $106.92 and its 200-day simple moving average is $96.59. The firm has a market cap of $15.46 billion, a PE ratio of 39.44, a P/E/G ratio of 1.99 and a beta of 1.17. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03.

AECOM (NYSE:ACM) last issued its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.24 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. Equities research analysts expect that AECOM will post 5.1 EPS for the current fiscal year.

AECOM announced that its Board of Directors has initiated a stock buyback plan on Monday, November 18th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the construction company to purchase up to 6.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

AECOM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 0.89%. This is an increase from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is currently 29.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ACM shares. KeyCorp increased their price target on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Truist Financial increased their target price on AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Citigroup increased their price objective on shares of AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, Robert W. Baird boosted their price objective on shares of AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research report on Tuesday, November 19th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $119.38.

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.