AECOM (ACM) CEO Sells $1,110,000.00 in Stock
AECOM (NYSE:ACM) CEO Michael S. Burke sold 30,000 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the completion of the sale, the chief executive officer now directly owns 154,362 shares in the company, valued at approximately $5,711,394. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Shares of AECOM (NYSE:ACM) opened at 36.81 on Monday. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of 22.54 and a beta of 1.69. The firm has a 50-day moving average of $32.45 and a 200 day moving average of $33.16. AECOM has a one year low of $26.46 and a one year high of $40.72.
AECOM (NYSE:ACM) last posted its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.78. The firm had revenue of $4.56 billion for the quarter, compared to analysts’ expectations of $4.54 billion. AECOM had a net margin of 1.46% and a return on equity of 12.19%. The business’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.81 earnings per share. On average, equities research analysts predict that AECOM will post $2.91 EPS for the current year.
AECOM announced that its board has initiated a stock repurchase plan on Thursday, September 21st that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the construction company to repurchase up to 18.3% 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.
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A number of institutional investors have recently added to or reduced their stakes in ACM. Vanguard Group Inc. grew its stake in AECOM by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 13,443,021 shares of the construction company’s stock worth $434,613,000 after acquiring an additional 176,473 shares in the last quarter. BlackRock Inc. raised its stake in shares of AECOM by 15,313.2% during the first quarter. BlackRock Inc. now owns 12,670,699 shares of the construction company’s stock valued at $450,949,000 after acquiring an additional 12,588,492 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of AECOM by 16.3% during the first quarter. Primecap Management Co. CA now owns 8,636,075 shares of the construction company’s stock valued at $307,358,000 after acquiring an additional 1,212,050 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of AECOM by 3.2% during the second quarter. Dimensional Fund Advisors LP now owns 4,718,353 shares of the construction company’s stock valued at $152,542,000 after acquiring an additional 148,231 shares in the last quarter. Finally, State Street Corp raised its stake in shares of AECOM by 1.1% during the second quarter. State Street Corp now owns 3,977,619 shares of the construction company’s stock valued at $128,599,000 after acquiring an additional 44,044 shares in the last quarter. 82.06% of the stock is owned by institutional investors.
Several equities analysts have recently commented on the stock. Credit Suisse Group reaffirmed a “buy” rating and set a $44.00 price objective on shares of AECOM in a research note on Thursday, June 29th. UBS AG set a $38.00 target price on AECOM and gave the stock a “buy” rating in a research note on Monday, June 26th. Citigroup Inc. reissued a “buy” rating and issued a $40.00 target price (down from $45.00) on shares of AECOM in a research note on Tuesday, July 18th. KeyCorp restated a “buy” rating and set a $40.00 price target on shares of AECOM in a report on Friday, August 25th. Finally, Robert W. Baird restated a “hold” rating and set a $36.00 price target on shares of AECOM in a report on Tuesday, September 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $38.64.
AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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