California Public Employees Retirement System Grows Position in AECOM (NYSE:ACM)

Posted by Defense World Staff on May 11th, 2023

California Public Employees Retirement System boosted its stake in shares of AECOM (NYSE:ACM – Get Rating) by 2.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 328,451 shares of the construction company’s stock after purchasing an additional 7,367 shares during the period. California Public Employees Retirement System owned approximately 0.24% of AECOM worth $27,895,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ACM. Invesco Ltd. grew its position in AECOM by 39.2% during the 1st quarter. Invesco Ltd. now owns 3,456,275 shares of the construction company’s stock worth $265,478,000 after purchasing an additional 972,449 shares during the last quarter. Point72 Asset Management L.P. grew its position in AECOM by 307.7% during the 3rd quarter. Point72 Asset Management L.P. now owns 407,700 shares of the construction company’s stock worth $27,874,000 after purchasing an additional 307,700 shares during the last quarter. Findlay Park Partners LLP purchased a new stake in shares of AECOM in the 4th quarter valued at $24,790,000. Federated Hermes Inc. boosted its holdings in shares of AECOM by 110.6% in the 1st quarter. Federated Hermes Inc. now owns 459,259 shares of the construction company’s stock valued at $35,276,000 after acquiring an additional 241,164 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of AECOM by 693.8% in the 3rd quarter. Victory Capital Management Inc. now owns 242,706 shares of the construction company’s stock valued at $16,594,000 after acquiring an additional 212,131 shares during the last quarter. Hedge funds and other institutional investors own 84.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on ACM. KeyCorp upped their price objective on shares of AECOM from $91.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, January 17th. Citigroup upped their price objective on shares of AECOM from $100.00 to $105.00 and gave the stock a “buy” rating in a research report on Wednesday, February 8th. Barclays upped their price objective on shares of AECOM from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Friday, January 13th. StockNews.com cut shares of AECOM from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, Royal Bank of Canada increased their target price on shares of AECOM from $94.00 to $102.00 in a research report on Wednesday, February 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, AECOM currently has a consensus rating of “Moderate Buy” and an average price target of $99.00.

AECOM Trading Down 0.2 %

Shares of ACM opened at $80.02 on Thursday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.80. AECOM has a 12-month low of $60.74 and a 12-month high of $92.16. The firm has a 50-day moving average price of $83.24 and a 200 day moving average price of $83.60. The firm has a market capitalization of $11.12 billion, a P/E ratio of 33.48, a P/E/G ratio of 2.07 and a beta of 1.29.

AECOM (NYSE:ACM – Get Rating) last announced its earnings results on Tuesday, May 9th. The construction company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.04. AECOM had a net margin of 2.54% and a return on equity of 18.50%. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the firm posted $0.83 earnings per share. AECOM’s revenue was up 8.6% compared to the same quarter last year. Sell-side analysts forecast that AECOM will post 3.67 EPS for the current year.

AECOM Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 21st. Investors of record on Wednesday, April 5th were issued a $0.18 dividend. The ex-dividend date was Tuesday, April 4th. This represents a $0.72 annualized dividend and a yield of 0.90%. AECOM’s dividend payout ratio (DPR) is 30.13%.

AECOM Company Profile

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AECOM engages in the design, manufacture, financing, and operation of infrastructure assets for governments, businesses and organizations. It operates through the following segments: Americas, International, and AECOM Capital. The Americas segment deals with planning, consulting, architectural and engineering design and construction management services to commercial and government clients in the United States, Canada and Latin America in major end markets such as transportation, water, government, facilities, environmental and energy.