Pinnacle Associates Ltd. Lowers Holdings in AECOM (NYSE:ACM)

Pinnacle Associates Ltd. reduced its position in AECOM (NYSE:ACM) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,522 shares of the construction company’s stock after selling 100 shares during the quarter. Pinnacle Associates Ltd.’s holdings in AECOM were worth $467,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. CreativeOne Wealth LLC lifted its holdings in AECOM by 3.4% during the first quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock worth $336,000 after buying an additional 114 shares during the period. Fifth Third Bancorp lifted its stake in shares of AECOM by 6.7% during the 2nd quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock worth $159,000 after purchasing an additional 114 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in AECOM by 4.7% during the second quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after purchasing an additional 138 shares in the last quarter. Nilsine Partners LLC grew its stake in AECOM by 1.1% in the second quarter. Nilsine Partners LLC now owns 13,981 shares of the construction company’s stock valued at $1,232,000 after purchasing an additional 152 shares during the last quarter. Finally, Ballentine Partners LLC lifted its position in shares of AECOM by 4.1% during the third quarter. Ballentine Partners LLC now owns 3,992 shares of the construction company’s stock valued at $412,000 after buying an additional 158 shares during the last quarter. 85.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ACM shares. Truist Financial lifted their price objective on shares of AECOM from $108.00 to $119.00 and gave the stock a “buy” rating in a research report on Friday, October 4th. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Royal Bank of Canada raised their price objective on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Robert W. Baird upped their target price on AECOM from $96.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, KeyCorp raised their price target on AECOM from $99.00 to $115.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Eight equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $112.29.

AECOM Stock Up 1.5 %

Shares of ACM stock opened at $108.40 on Monday. AECOM has a fifty-two week low of $76.95 and a fifty-two week high of $109.98. The firm has a market capitalization of $14.53 billion, a PE ratio of 58.28, a P/E/G ratio of 1.61 and a beta of 1.17. The company has a debt-to-equity ratio of 0.98, a quick ratio of 1.13 and a current ratio of 1.13. The stock’s 50-day simple moving average is $102.25 and its 200-day simple moving average is $94.45.

AECOM (NYSE:ACM) last posted its quarterly earnings results on Monday, August 5th. The construction company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.04. AECOM had a net margin of 1.61% and a return on equity of 24.14%. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $1.85 billion. During the same period last year, the firm posted $0.94 EPS. AECOM’s revenue for the quarter was up 13.3% compared to the same quarter last year. Equities analysts expect that AECOM will post 4.46 earnings per share for the current year.

AECOM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 2nd were paid a $0.22 dividend. The ex-dividend date was Wednesday, October 2nd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 0.81%. AECOM’s payout ratio is currently 47.31%.

AECOM Profile

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.