Truist Financial Boosts AECOM (NYSE:ACM) Price Target to $129.00

AECOM (NYSE:ACM) had its price objective hoisted by Truist Financial from $119.00 to $129.00 in a research note released on Friday morning,Benzinga reports. Truist Financial currently has a buy rating on the construction company’s stock.

Other analysts also recently issued reports about the stock. Citigroup upped their price objective on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a report on Wednesday, August 7th. The Goldman Sachs Group assumed coverage on AECOM in a report on Friday. They issued a “buy” rating and a $130.00 price objective for the company. Robert W. Baird boosted their price target on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a report on Tuesday, November 19th. Finally, KeyCorp raised their price objective on shares of AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $119.38.

AECOM Price Performance

NYSE ACM opened at $116.31 on Friday. The company has a market cap of $15.41 billion, a price-to-earnings ratio of 39.29, a PEG ratio of 1.91 and a beta of 1.17. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.13 and a quick ratio of 1.13. The stock’s fifty day moving average price is $106.16 and its 200 day moving average price is $96.22. AECOM has a 1 year low of $82.23 and a 1 year high of $116.76.

AECOM (NYSE:ACM) last announced its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The business had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.86 billion. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The company’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.01 earnings per share. As a group, equities research analysts forecast that AECOM will post 5.1 earnings per share for the current year.

AECOM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from AECOM’s previous quarterly dividend of $0.22. AECOM’s payout ratio is presently 35.14%.

AECOM declared that its Board of Directors has approved a share repurchase plan on Monday, November 18th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Transactions at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of AECOM stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.42% of the company’s stock.

Institutional Trading of AECOM

Institutional investors have recently made changes to their positions in the company. Mackenzie Financial Corp increased its stake in 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 acquiring an additional 1,180 shares during the last quarter. Acadian Asset Management LLC purchased a new position in AECOM during the first quarter worth about $1,085,000. Plato Investment Management Ltd acquired a new stake in shares of AECOM during the first quarter valued at about $741,000. Price T Rowe Associates Inc. MD raised its stake in shares of AECOM by 7.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 87,301 shares of the construction company’s stock valued at $8,564,000 after acquiring an additional 6,003 shares during the period. Finally, SG Americas Securities LLC boosted its position in shares of AECOM by 24.3% during the 2nd quarter. SG Americas Securities LLC now owns 203,281 shares of the construction company’s stock worth $17,917,000 after purchasing an additional 39,801 shares during the period. Hedge funds and other institutional investors own 85.41% 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.