J.P. Marvel Investment Advisors LLC Purchases 4,000 Shares of AECOM (ACM)
J.P. Marvel Investment Advisors LLC raised its position in AECOM (NYSE:ACM) by 18.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,820 shares of the construction company’s stock after acquiring an additional 4,000 shares during the quarter. J.P. Marvel Investment Advisors LLC’s holdings in AECOM were worth $835,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. grew its position in AECOM by 1.3% in the second quarter. Vanguard Group Inc. now owns 13,443,021 shares of the construction company’s stock valued at $434,613,000 after acquiring an additional 176,473 shares in the last quarter. BlackRock Inc. grew its position in AECOM by 15,313.2% in 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. Dimensional Fund Advisors LP grew its position in AECOM by 3.2% in 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. State Street Corp grew its position in AECOM by 1.1% in 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. Finally, Alliancebernstein L.P. grew its position in AECOM by 0.3% in the second quarter. Alliancebernstein L.P. now owns 2,816,118 shares of the construction company’s stock valued at $91,045,000 after acquiring an additional 7,075 shares in the last quarter. 82.07% of the stock is owned by institutional investors.
In other news, CEO Michael S. Burke sold 56,800 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was sold at an average price of $36.86, for a total transaction of $2,093,648.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Michael S. Burke sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 27th. The shares were sold at an average price of $37.00, for a total value of $1,110,000.00. Following the sale, the chief executive officer now owns 154,362 shares in the company, valued at $5,711,394. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.
Several brokerages have issued reports on ACM. BidaskClub downgraded shares of AECOM from a “sell” rating to a “strong sell” rating in a research report on Tuesday, June 20th. Robert W. Baird downgraded shares of AECOM from an “outperform” rating to a “neutral” rating and set a $4.00 price objective for the company. in a research report on Tuesday, July 4th. KeyCorp reaffirmed a “buy” rating on shares of AECOM in a research report on Friday, September 22nd. Zacks Investment Research raised shares of AECOM from a “strong sell” rating to a “hold” rating in a research report on Tuesday, September 19th. Finally, Canaccord Genuity reaffirmed a “hold” rating and issued a $36.00 price objective on shares of AECOM in a research report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. AECOM has an average rating of “Hold” and an average price target of $38.80.
AECOM (NYSE ACM) traded up 0.53% during mid-day trading on Monday, hitting $35.88. 215,525 shares of the stock were exchanged. The company has a 50-day moving average price of $34.91 and a 200-day moving average price of $33.29. AECOM has a one year low of $26.46 and a one year high of $40.72. The company has a market cap of $5.62 billion, a P/E ratio of 21.97 and a beta of 1.69.
AECOM (NYSE:ACM) last issued its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.78. The company had revenue of $4.56 billion for the quarter, compared to the consensus estimate of $4.54 billion. AECOM had a return on equity of 12.19% and a net margin of 1.46%. The company’s revenue for the quarter was up 3.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.81 EPS. On average, analysts predict that AECOM will post $2.91 earnings per share for the current fiscal year.
AECOM announced that its board has initiated a share repurchase plan on Thursday, September 21st that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the construction company to purchase up to 18.3% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its stock is undervalued.
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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