Primecap Management Co. CA Has $1.29 Billion Stock Position in AECOM (NYSE:ACM)

Primecap Management Co. CA lessened its position in AECOM (NYSE:ACM) by 3.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,511,207 shares of the construction company’s stock after selling 510,706 shares during the period. Primecap Management Co. CA owned approximately 9.33% of AECOM worth $1,292,032,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of AECOM in the first quarter valued at $25,000. Family Firm Inc. purchased a new position in AECOM during the second quarter worth about $31,000. UMB Bank n.a. grew its position in AECOM by 196.2% during the third quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after buying an additional 257 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in AECOM during the third quarter worth about $50,000. Finally, Versant Capital Management Inc grew its position in AECOM by 4,375.0% during the second quarter. Versant Capital Management Inc now owns 537 shares of the construction company’s stock worth $47,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 85.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Royal Bank of Canada lifted their price target on AECOM from $112.00 to $113.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 7th. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Truist Financial upped their price target on AECOM from $108.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Citigroup upped their price target on AECOM from $110.00 to $128.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, KeyCorp upped their price target on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $116.43.

AECOM Trading Up 0.6 %

ACM opened at $109.48 on Thursday. The stock has a market cap of $14.68 billion, a price-to-earnings ratio of 36.99, a P/E/G ratio of 1.61 and a beta of 1.17. The stock’s 50 day moving average price is $105.19 and its 200-day moving average price is $95.85. 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 quick ratio of 1.13 and a current ratio of 1.13.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 18th. The construction company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.03. The firm had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. AECOM had a return on equity of 24.14% and a net margin of 1.61%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.01 earnings per share. On average, equities analysts forecast that AECOM will post 4.47 EPS for the current year.

AECOM Increases Dividend

The company 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 is a positive change from AECOM’s previous quarterly dividend of $0.22. The ex-dividend date is Thursday, January 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.95%. AECOM’s payout ratio is presently 29.73%.

AECOM declared that its board has initiated a stock repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to purchase up to 6.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the completion of the sale, the chief financial officer now owns 31,228 shares in the company, valued at $3,601,837.52. This represents a 57.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.42% of the stock is owned by company insiders.

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.