Assetmark Inc. Acquires New Position in AECOM (NYSE:ACM)

Assetmark Inc. acquired a new stake in AECOM (NYSE:ACM) in the third quarter, Holdings Channel reports. The firm acquired 1,575 shares of the construction company’s stock, valued at approximately $163,000.

Other institutional investors have also recently made changes to their positions in the company. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in AECOM by 5.5% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,339,185 shares of the construction company’s stock worth $206,176,000 after acquiring an additional 122,015 shares during the last quarter. Impax Asset Management Group plc lifted its stake in AECOM by 15.5% in 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 during the last quarter. Bank of New York Mellon Corp lifted its stake in AECOM by 18.8% in the second quarter. Bank of New York Mellon Corp now owns 1,628,924 shares of the construction company’s stock worth $143,573,000 after acquiring an additional 258,250 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in AECOM by 2.7% in the first quarter. Jacobs Levy Equity Management Inc. now owns 980,228 shares of the construction company’s stock worth $96,141,000 after acquiring an additional 26,079 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale lifted its stake in AECOM by 67.8% in the second quarter. DekaBank Deutsche Girozentrale now owns 808,192 shares of the construction company’s stock worth $71,897,000 after acquiring an additional 326,423 shares during the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

Analyst Ratings Changes

ACM has been the subject of several recent analyst reports. Truist Financial boosted 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. KeyCorp boosted their price objective on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research report on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of AECOM from $96.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Royal Bank of Canada boosted their price objective on shares of AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 7th. Finally, Citigroup boosted 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. Eight research analysts have rated the stock with a buy rating, Based on data from MarketBeat, AECOM currently has a consensus rating of “Buy” and a consensus price target of $113.29.

AECOM Price Performance

NYSE:ACM opened at $106.93 on Monday. The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 57.49, a price-to-earnings-growth ratio of 1.61 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. The company’s 50-day moving average is $104.62 and its two-hundred day moving average is $95.63. AECOM has a 12-month low of $82.23 and a 12-month high of $115.74.

AECOM Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 2nd were issued a dividend of $0.22 per share. The ex-dividend date was Wednesday, October 2nd. This represents a $0.88 annualized dividend and a dividend yield of 0.82%. AECOM’s payout ratio is currently 47.31%.

Insider Buying and Selling

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.42% of the company’s stock.

AECOM Company 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.