Fjarde AP Fonden Fourth Swedish National Pension Fund Reduces Stock Position in AECOM (NYSE:ACM)

Fjarde AP Fonden Fourth Swedish National Pension Fund cut its stake in AECOM (NYSE:ACM) by 0.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 83,777 shares of the construction company’s stock after selling 700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund owned approximately 0.06% of AECOM worth $8,949,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Navellier & Associates Inc. purchased a new position in shares of AECOM during the 4th quarter worth approximately $3,956,000. ING Groep NV increased its stake in shares of AECOM by 112.6% during the 4th quarter. ING Groep NV now owns 57,400 shares of the construction company’s stock worth $6,131,000 after purchasing an additional 30,400 shares in the last quarter. Private Advisor Group LLC increased its stake in shares of AECOM by 265.5% during the 4th quarter. Private Advisor Group LLC now owns 11,505 shares of the construction company’s stock worth $1,229,000 after purchasing an additional 8,357 shares in the last quarter. Kestra Investment Management LLC purchased a new position in shares of AECOM during the 4th quarter worth approximately $256,000. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of AECOM during the 4th quarter worth approximately $217,000. 85.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ACM has been the subject of a number of recent research reports. StockNews.com raised shares of AECOM from a “hold” rating to a “buy” rating in a research note on Sunday, October 27th. The Goldman Sachs Group started coverage on shares of AECOM in a research note on Friday, November 22nd. They set a “buy” rating and a $130.00 price objective for the company. KeyCorp decreased their target price on shares of AECOM from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird decreased their target price on shares of AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. Finally, Truist Financial raised their target price on shares of AECOM from $119.00 to $129.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, AECOM presently has a consensus rating of “Buy” and an average price target of $120.38.

AECOM Stock Down 2.2 %

Shares of ACM opened at $97.49 on Monday. The firm has a market cap of $12.93 billion, a PE ratio of 27.70, a price-to-earnings-growth ratio of 1.67 and a beta of 1.19. The company’s fifty day moving average is $106.46 and its two-hundred day moving average is $105.44. AECOM has a fifty-two week low of $82.23 and a fifty-two week high of $118.56. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02.

AECOM (NYSE:ACM) last announced its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 earnings per share for the quarter, beating 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%. Analysts forecast that AECOM will post 5.1 earnings per share for the current year.

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

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.