CIBC Asset Management Inc Has $408,000 Stake in AECOM (NYSE:ACM)

CIBC Asset Management Inc boosted its stake in AECOM (NYSE:ACM) by 3.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,949 shares of the construction company’s stock after buying an additional 132 shares during the period. CIBC Asset Management Inc’s holdings in AECOM were worth $408,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In related news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. The trade was a 57.59 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial upped their price target on AECOM from $108.00 to $119.00 and gave the company a “buy” rating in a research note on Friday, October 4th. Barclays upped their price target on AECOM from $100.00 to $105.00 and gave the company an “overweight” rating in a research note on Thursday, August 8th. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Robert W. Baird upped their price objective on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Citigroup upped their price objective on AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Eight research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $116.43.

AECOM Price Performance

AECOM stock opened at $112.74 on Friday. The stock’s fifty day moving average price is $105.47 and its two-hundred day moving average price is $95.95. AECOM has a one year low of $82.23 and a one year high of $115.74. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a market cap of $15.12 billion, a PE ratio of 36.99, a price-to-earnings-growth ratio of 1.64 and a beta of 1.17.

AECOM (NYSE:ACM) last issued its quarterly earnings results on Monday, November 18th. The construction company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.28% and a net margin of 2.50%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. During the same quarter last year, the company posted $1.01 EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts expect that AECOM will post 4.95 EPS for the current fiscal year.

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

AECOM Increases Dividend

The business 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. The ex-dividend date is Thursday, January 2nd. This is an increase from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.92%. AECOM’s payout ratio is presently 29.73%.

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.