New York State Common Retirement Fund Decreases Position in AECOM (NYSE:ACM)

New York State Common Retirement Fund trimmed its stake in AECOM (NYSE:ACM) by 1.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 286,658 shares of the construction company’s stock after selling 3,504 shares during the quarter. New York State Common Retirement Fund owned approximately 0.22% of AECOM worth $30,621,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. Magnus Financial Group LLC increased its stake in AECOM by 93.5% in the fourth quarter. Magnus Financial Group LLC now owns 4,860 shares of the construction company’s stock valued at $519,000 after purchasing an additional 2,348 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of AECOM by 40.1% in the third quarter. JPMorgan Chase & Co. now owns 768,266 shares of the construction company’s stock worth $79,339,000 after buying an additional 220,035 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its position in shares of AECOM by 5.0% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 258,680 shares of the construction company’s stock worth $26,714,000 after buying an additional 12,224 shares during the period. TT International Asset Management LTD purchased a new position in AECOM in the fourth quarter valued at about $3,578,000. Finally, Park Avenue Securities LLC boosted its holdings in AECOM by 176.9% in the fourth quarter. Park Avenue Securities LLC now owns 7,239 shares of the construction company’s stock valued at $773,000 after purchasing an additional 4,625 shares during the last quarter. 85.41% of the stock is owned by institutional investors and hedge funds.

AECOM Stock Performance

Shares of NYSE ACM opened at $99.72 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.02. The stock has a market capitalization of $13.23 billion, a price-to-earnings ratio of 28.33, a PEG ratio of 1.70 and a beta of 1.19. The stock’s fifty day simple moving average is $106.74 and its 200 day simple moving average is $105.16. AECOM has a 52-week low of $82.23 and a 52-week high of $118.56.

AECOM (NYSE:ACM) last issued 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 return on equity of 26.84% and a net margin of 2.93%. As a group, sell-side analysts forecast that AECOM will post 5.1 earnings per share for the current fiscal year.

AECOM declared that its Board of Directors has approved a share repurchase plan on Monday, November 18th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to reacquire up to 6.8% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. StockNews.com raised AECOM from a “hold” rating to a “buy” rating in a report on Sunday, October 27th. Robert W. Baird dropped their price target on AECOM from $125.00 to $117.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 4th. KeyCorp lowered their target price on AECOM from $122.00 to $121.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Truist Financial raised their target price on AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Citigroup decreased their price target on AECOM from $128.00 to $127.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $120.38.

AECOM Company 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.