Citigroup Inc. lifted its holdings in AECOM (NYSE:ACM – Free Report) by 9.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 508,722 shares of the construction company’s stock after buying an additional 42,170 shares during the period. Citigroup Inc. owned about 0.37% of AECOM worth $43,084,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of ACM. Moneta Group Investment Advisors LLC boosted its position in shares of AECOM by 106,750.4% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 3,422,418 shares of the construction company’s stock worth $290,666,000 after buying an additional 3,419,215 shares during the period. Norges Bank purchased a new stake in shares of AECOM during the fourth quarter worth $214,427,000. BlackRock Inc. raised its holdings in shares of AECOM by 17.7% during the first quarter. BlackRock Inc. now owns 15,881,712 shares of the construction company’s stock worth $1,339,146,000 after acquiring an additional 2,384,361 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of AECOM by 106.4% during the first quarter. JPMorgan Chase & Co. now owns 3,315,066 shares of the construction company’s stock worth $279,525,000 after acquiring an additional 1,709,275 shares in the last quarter. Finally, Impax Asset Management Group plc purchased a new stake in shares of AECOM during the second quarter worth $128,990,000. Institutional investors and hedge funds own 84.79% of the company’s stock.
AECOM Price Performance
NYSE ACM opened at $87.01 on Friday. AECOM has a fifty-two week low of $74.40 and a fifty-two week high of $92.16. The stock’s 50-day moving average is $81.09 and its two-hundred day moving average is $83.40. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $12.07 billion, a P/E ratio of 223.10, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30.
AECOM Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 19th. Stockholders of record on Thursday, January 4th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, January 3rd. This is a positive change from AECOM’s previous quarterly dividend of $0.18. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.01%. AECOM’s payout ratio is presently 225.64%.
AECOM declared that its board has approved a share repurchase program on Monday, November 13th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the construction company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on the company. Credit Suisse Group cut their price objective on AECOM from $101.00 to $99.00 and set an “outperform” rating for the company in a report on Wednesday, August 9th. Royal Bank of Canada increased their price objective on AECOM from $102.00 to $109.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup cut their target price on AECOM from $105.00 to $93.00 and set a “buy” rating on the stock in a report on Monday, October 23rd. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Wednesday. Seven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM presently has a consensus rating of “Buy” and a consensus target price of $98.43.
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 commercial and government clients.
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