KeyCorp Has Lowered Expectations for AECOM (NYSE:ACM) Stock Price

AECOM (NYSE:ACM) had its price target reduced by KeyCorp from $122.00 to $121.00 in a research report released on Wednesday,Benzinga reports. They currently have an overweight rating on the construction company’s stock.

A number of other equities analysts have also recently issued reports on ACM. The Goldman Sachs Group started coverage on AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 target price on the stock. Truist Financial lifted their price objective on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Citigroup raised their price target on shares of AECOM from $110.00 to $128.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Robert W. Baird boosted their price objective on AECOM from $113.00 to $122.00 and gave the stock an “outperform” rating in a report on Tuesday, November 19th. Finally, StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, AECOM has an average rating of “Buy” and a consensus target price of $119.25.

AECOM Stock Down 1.3 %

Shares of NYSE ACM opened at $105.94 on Wednesday. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.03. The firm has a market cap of $14.03 billion, a PE ratio of 35.79, a P/E/G ratio of 1.92 and a beta of 1.19. The company’s fifty day simple moving average is $110.70 and its 200 day simple moving average is $101.44. AECOM has a 12-month low of $82.23 and a 12-month high of $118.56.

AECOM (NYSE:ACM) last issued its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.24 by $0.03. AECOM had a return on equity of 25.46% and a net margin of 2.50%. The company had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.86 billion. During the same period last year, the business posted $1.01 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 2nd will be given a dividend of $0.26 per share. 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. This represents a $1.04 annualized dividend and a dividend yield of 0.98%. AECOM’s dividend payout ratio (DPR) is currently 35.14%.

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

Insider Activity at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 31,228 shares in the company, 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 filing with the SEC, which is available through the SEC website. 0.42% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its holdings in AECOM by 1.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 7,830 shares of the construction company’s stock worth $809,000 after buying an additional 109 shares during the period. Everence Capital Management Inc. purchased a new stake in shares of AECOM during the fourth quarter worth $458,000. GAMMA Investing LLC boosted its holdings in shares of AECOM by 35.3% in the fourth quarter. GAMMA Investing LLC now owns 1,528 shares of the construction company’s stock worth $163,000 after acquiring an additional 399 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of AECOM by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after acquiring an additional 220,035 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in shares of AECOM in the third quarter valued at $2,928,000. Institutional investors own 85.41% of the company’s stock.

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.