AECOM (NYSE:ACM) Given New $121.00 Price Target at KeyCorp

AECOM (NYSE:ACM) had its target price lowered by KeyCorp from $122.00 to $121.00 in a report issued on Wednesday,Benzinga reports. The firm currently has an overweight rating on the construction company’s stock.

A number of other equities analysts also recently commented on ACM. The Goldman Sachs Group assumed coverage on shares of AECOM in a research report on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective for the company. Robert W. Baird raised 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. Truist Financial lifted their price target on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup boosted their target price 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, StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. Nine analysts have rated the stock with a buy rating, According to MarketBeat, AECOM currently has a consensus rating of “Buy” and an average price target of $119.25.

AECOM Price Performance

Shares of NYSE:ACM opened at $107.18 on Wednesday. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.13 and a current ratio of 1.13. AECOM has a one year low of $82.23 and a one year high of $118.56. The company has a 50-day simple moving average of $110.69 and a 200-day simple moving average of $101.36. The stock has a market capitalization of $14.20 billion, a price-to-earnings ratio of 36.21, a PEG ratio of 1.92 and a beta of 1.19.

AECOM (NYSE:ACM) last announced its earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $1.01 EPS. The company’s revenue was up 4.9% on a year-over-year basis. On average, analysts predict that AECOM will post 5.1 EPS for the current year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, January 2nd. AECOM’s dividend payout ratio (DPR) is 35.14%.

AECOM announced that its Board of Directors has initiated a stock repurchase plan on Monday, November 18th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

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

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its holdings in shares of AECOM by 12.5% during the second quarter. Mackenzie Financial Corp now owns 10,621 shares of the construction company’s stock worth $936,000 after purchasing an additional 1,180 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in AECOM by 5.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock worth $26,714,000 after buying an additional 12,224 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in AECOM by 40.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after buying an additional 220,035 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in AECOM by 60.5% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 26,051 shares of the construction company’s stock valued at $2,296,000 after buying an additional 9,815 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of AECOM during the 3rd quarter valued at about $495,000. Institutional investors and hedge funds own 85.41% of the company’s stock.

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.