New York Life Investment Management LLC Sells 1,667 Shares of AECOM (NYSE:ACM)

New York Life Investment Management LLC cut its stake in shares of AECOM (NYSE:ACM) by 10.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,864 shares of the construction company’s stock after selling 1,667 shares during the quarter. New York Life Investment Management LLC’s holdings in AECOM were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACM. Principal Securities Inc. grew its holdings in shares of AECOM by 95.9% during the 4th quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock valued at $25,000 after purchasing an additional 116 shares during the last quarter. Allworth Financial LP grew its holdings in shares of AECOM by 390.6% during the 4th quarter. Allworth Financial LP now owns 260 shares of the construction company’s stock valued at $29,000 after purchasing an additional 207 shares during the last quarter. Private Trust Co. NA bought a new stake in shares of AECOM during the 3rd quarter valued at approximately $30,000. True Wealth Design LLC grew its holdings in shares of AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. Finally, National Pension Service bought a new stake in AECOM during the 4th quarter worth approximately $32,000. 85.41% of the stock is owned by institutional investors.

AECOM Stock Down 3.0 %

Shares of NYSE ACM opened at $97.08 on Tuesday. The company has a market capitalization of $12.88 billion, a P/E ratio of 27.58, a price-to-earnings-growth ratio of 1.63 and a beta of 1.19. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.14 and a current ratio of 1.14. The company’s 50 day moving average price is $105.16 and its 200-day moving average price is $105.51.

AECOM (NYSE:ACM) last issued its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. Equities analysts forecast that AECOM will post 5.1 earnings per share for the current year.

AECOM declared that its board has initiated a share buyback plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to buy up to 6.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities research analysts have weighed in on ACM shares. Citigroup reduced their target price on shares of AECOM from $128.00 to $127.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. Robert W. Baird reduced their target price on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a report on Tuesday, February 4th. The Goldman Sachs Group started coverage on shares of AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 target price on the stock. Barclays boosted their target price on shares of AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a report on Thursday, February 6th. Finally, Truist Financial boosted their target price on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $120.38.

AECOM 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.