Verition Fund Management LLC Acquires New Position in Aecom (ACM)
Verition Fund Management LLC acquired a new position in Aecom (NYSE:ACM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 24,609 shares of the construction company’s stock, valued at approximately $813,000.
A number of other institutional investors have also bought and sold shares of ACM. Moneta Group Investment Advisors LLC acquired a new position in Aecom in the second quarter worth $185,000. Paloma Partners Management Co acquired a new position in Aecom in the second quarter worth $242,000. Raymond James & Associates boosted its stake in Aecom by 34.6% in the second quarter. Raymond James & Associates now owns 7,952 shares of the construction company’s stock worth $263,000 after purchasing an additional 2,044 shares in the last quarter. Cornerstone Wealth Management LLC acquired a new position in Aecom in the second quarter worth $300,000. Finally, ING Groep NV bought a new stake in shares of Aecom during the second quarter worth $342,000. 84.41% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently weighed in on ACM shares. Citigroup dropped their target price on Aecom from $45.00 to $42.00 and set a “buy” rating for the company in a research report on Wednesday, August 8th. 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. Finally, Credit Suisse Group dropped their target price on Aecom from $38.00 to $36.00 and set a “neutral” rating for the company in a research report on Wednesday, August 8th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $36.00.
Aecom (NYSE:ACM) last released its earnings results on Tuesday, August 7th. The construction company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.01. The company had revenue of $5.15 billion during 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 company posted $0.78 earnings per share. equities research analysts predict that Aecom will post 2.68 earnings per share for the current fiscal year.
In related news, EVP Carla J. Christofferson sold 1,000 shares of the company’s 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 Securities & Exchange Commission, which is available at this link. Also, insider Lara Poloni sold 1,607 shares of the company’s stock in a transaction dated Monday, September 17th. The shares were sold at an average price of $32.49, for a total value of $52,211.43. Following the completion of the sale, the insider now owns 2,288 shares of the company’s stock, valued at approximately $74,337.12. The disclosure for this sale can be found here. Corporate insiders own 0.74% of the company’s stock.
Aecom Company Profile
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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