Advisors Capital Management LLC Lowers Holdings in Aecom (ACM)
Advisors Capital Management LLC decreased its position in shares of Aecom (NYSE:ACM) by 6.8% during the second quarter, HoldingsChannel reports. The firm owned 95,020 shares of the construction company’s stock after selling 6,965 shares during the period. Advisors Capital Management LLC’s holdings in Aecom were worth $3,139,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ACM. MD Sass Investors Services Inc. purchased a new stake in Aecom during the first quarter valued at about $21,728,000. BlackRock Inc. raised its position in Aecom by 3.1% during the first quarter. BlackRock Inc. now owns 12,919,062 shares of the construction company’s stock valued at $460,308,000 after purchasing an additional 383,145 shares in the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in Aecom during the first quarter valued at about $4,869,000. Nuveen Asset Management LLC raised its position in Aecom by 53.7% during the first quarter. Nuveen Asset Management LLC now owns 369,263 shares of the construction company’s stock valued at $13,157,000 after purchasing an additional 128,999 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D raised its position in Aecom by 5.9% during the first quarter. State of New Jersey Common Pension Fund D now owns 1,800,000 shares of the construction company’s stock valued at $64,134,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors and hedge funds own 84.42% of the company’s stock.
A number of equities research analysts have weighed in on the company. Argus downgraded Aecom from a “buy” rating to a “hold” rating in a research report on Wednesday, August 15th. Zacks Investment Research upgraded Aecom from a “sell” rating to a “hold” rating in a research report on Thursday, August 9th. Credit Suisse Group lowered their price target on Aecom from $38.00 to $36.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 8th. Citigroup lowered their price target on Aecom from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Wednesday, August 8th. Finally, TheStreet downgraded Aecom from a “b” rating to a “c+” rating in a research report on Tuesday, May 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $36.00.
Aecom (NYSE:ACM) last released its quarterly earnings data on Tuesday, August 7th. The construction company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.61 by $0.01. The firm had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.88 billion. Aecom had a return on equity of 9.86% and a net margin of 0.72%. During the same quarter in the previous year, the business earned $0.78 earnings per share. analysts predict that Aecom will post 2.68 earnings per share for the current year.
In other news, EVP Carla J. Christofferson sold 1,000 shares of Aecom stock in a transaction dated Friday, July 6th. The stock was sold at an average price of $33.00, for a total value of $33,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.74% of the stock is currently owned by insiders.
AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. The company operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment provides planning, consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, such as transportation, facilities, environmental, and energy/power markets.
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