Meeder Asset Management Inc. Sells 34,987 Shares of AECOM (NYSE:ACM)

Meeder Asset Management Inc. lowered its stake in shares of AECOM (NYSE:ACM) by 67.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,648 shares of the construction company’s stock after selling 34,987 shares during the quarter. Meeder Asset Management Inc.’s holdings in AECOM were worth $1,719,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. CreativeOne Wealth LLC lifted its position in AECOM by 3.4% in the 1st quarter. CreativeOne Wealth LLC now owns 3,423 shares of the construction company’s stock worth $336,000 after buying an additional 114 shares during the last quarter. Fifth Third Bancorp lifted its holdings in shares of AECOM by 6.7% in the 2nd quarter. Fifth Third Bancorp now owns 1,808 shares of the construction company’s stock worth $159,000 after acquiring an additional 114 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of AECOM by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 3,949 shares of the construction company’s stock valued at $408,000 after purchasing an additional 132 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of AECOM by 4.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 3,102 shares of the construction company’s stock valued at $273,000 after purchasing an additional 138 shares during the last quarter. Finally, Nilsine Partners LLC raised its position in AECOM by 1.1% in the 2nd quarter. Nilsine Partners LLC now owns 13,981 shares of the construction company’s stock worth $1,232,000 after purchasing an additional 152 shares during the period. 85.41% of the stock is owned by institutional investors.

Insider Buying and Selling at AECOM

In other news, CFO Gaurav Kapoor sold 42,400 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $115.34, for a total value of $4,890,416.00. Following the completion of the transaction, the chief financial officer now owns 31,228 shares in the company, valued at $3,601,837.52. This trade represents a 57.59 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.42% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ACM. KeyCorp boosted their target price on AECOM from $115.00 to $122.00 and gave the company an “overweight” rating in a research note on Thursday, November 7th. Royal Bank of Canada increased their price objective on AECOM from $112.00 to $113.00 and gave the company an “outperform” rating in a research note on Wednesday, August 7th. Truist Financial lifted their target price on shares of AECOM from $108.00 to $119.00 and gave the stock a “buy” rating in a research note on Friday, October 4th. Robert W. Baird increased their price target on shares of AECOM from $96.00 to $100.00 and gave the company an “outperform” rating in a research report on Wednesday, August 7th. Finally, Barclays raised their price target on shares of AECOM from $100.00 to $105.00 and gave the stock an “overweight” rating in a report on Thursday, August 8th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $113.29.

AECOM Trading Up 2.1 %

NYSE:ACM opened at $109.19 on Tuesday. The company has a 50-day moving average price of $104.62 and a 200-day moving average price of $95.65. The stock has a market cap of $14.64 billion, a price-to-earnings ratio of 58.70, a P/E/G ratio of 1.61 and a beta of 1.17. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 0.98. AECOM has a 12 month low of $82.23 and a 12 month high of $115.74.

AECOM declared that its Board of Directors has authorized a share buyback plan on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to buy up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its shares are undervalued.

AECOM Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 17th. Shareholders of record on Thursday, January 2nd will be issued a $0.26 dividend. This is a positive change from AECOM’s previous quarterly dividend of $0.22. This represents a $1.04 annualized dividend and a yield of 0.95%. AECOM’s dividend payout ratio (DPR) is 47.31%.

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.