Boothbay Fund Management LLC Invests $505,000 in Aecom (ACM)
Boothbay Fund Management LLC acquired a new stake in Aecom (NYSE:ACM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 13,719 shares of the construction company’s stock, valued at approximately $505,000.
Several other institutional investors have also made changes to their positions in the company. Crow Point Partners LLC bought a new stake in Aecom during the 3rd quarter valued at $102,000. Global X Management Co. LLC raised its holdings in Aecom by 220.7% during the 2nd quarter. Global X Management Co. LLC now owns 4,923 shares of the construction company’s stock valued at $159,000 after buying an additional 3,388 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Aecom by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after buying an additional 576 shares during the last quarter. CIBC Asset Management Inc bought a new stake in Aecom during the 3rd quarter valued at $204,000. Finally, GAM Holding AG bought a new stake in Aecom during the 2nd quarter valued at $194,000. 82.39% of the stock is owned by institutional investors.
Aecom (NYSE:ACM) opened at $38.57 on Friday. The company has a debt-to-equity ratio of 0.88, a current ratio of 1.20 and a quick ratio of 1.20. Aecom has a 1-year low of $30.15 and a 1-year high of $40.72. The company has a market cap of $6,079.56, a price-to-earnings ratio of 13.12, a price-to-earnings-growth ratio of 2.07 and a beta of 1.73.
Aecom (NYSE:ACM) last issued its quarterly earnings data on Monday, November 13th. The construction company reported $0.74 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.03. Aecom had a net margin of 1.86% and a return on equity of 12.12%. The business had revenue of $4.86 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the business earned $0.65 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. sell-side analysts predict that Aecom will post 2.66 earnings per share for the current fiscal year.
Aecom declared that its Board of Directors has initiated a stock buyback program on Thursday, September 21st that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the construction company to repurchase up to 18.3% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
ACM has been the subject of a number of recent analyst reports. KeyCorp reiterated a “buy” rating on shares of Aecom in a report on Friday, September 22nd. Credit Suisse Group reiterated a “neutral” rating on shares of Aecom in a report on Tuesday, November 14th. DA Davidson reiterated a “hold” rating and set a $39.00 price target on shares of Aecom in a report on Tuesday, November 14th. Zacks Investment Research upgraded shares of Aecom from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Finally, UBS reiterated a “buy” rating and set a $4.00 price target (down from $40.00) on shares of Aecom in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. Aecom has an average rating of “Hold” and a consensus target price of $31.00.
In other Aecom news, CEO Michael S. Burke sold 56,800 shares of the company’s stock in a transaction on Thursday, October 5th. The shares were sold at an average price of $36.86, for a total value of $2,093,648.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael S. Burke sold 30,000 shares of the company’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the completion of the transaction, the chief executive officer now owns 154,362 shares of the company’s stock, valued at $5,711,394. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by corporate insiders.
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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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