Insider Selling: Aecon Group (TSE:ARE) Director Sells C$5,205,000.00 in Stock

Aecon Group Inc. (TSE:ARE) Director Eric Stuart Rosenfeld sold 125,000 shares of the company’s stock in a transaction dated Friday, March 27th. The stock was sold at an average price of C$41.64, for a total value of C$5,205,000.00. Following the sale, the director owned 184,200 shares in the company, valued at approximately C$7,670,088. This trade represents a 40.43% decrease in their position.

Aecon Group Price Performance

Shares of TSE ARE opened at C$43.52 on Thursday. The stock’s 50-day moving average is C$39.36 and its two-hundred day moving average is C$32.48. The company has a debt-to-equity ratio of 65.17, a current ratio of 1.10 and a quick ratio of 1.27. Aecon Group Inc. has a 1-year low of C$15.21 and a 1-year high of C$44.71. The company has a market cap of C$2.98 billion, a price-to-earnings ratio of 189.22, a price-to-earnings-growth ratio of 18.18 and a beta of 0.97.

Aecon Group (TSE:ARE) last issued its quarterly earnings results on Thursday, March 5th. The company reported C$0.52 earnings per share for the quarter. Aecon Group had a return on equity of 1.66% and a net margin of 0.28%.The company had revenue of C$1.54 billion for the quarter. Analysts forecast that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 2nd. Investors of record on Thursday, April 2nd were paid a dividend of $0.1925 per share. This represents a $0.77 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date was Monday, March 23rd. Aecon Group’s dividend payout ratio (DPR) is currently 330.43%.

Analysts Set New Price Targets

A number of research firms recently issued reports on ARE. ATB Cormark Capital Markets raised their price target on Aecon Group from C$39.00 to C$42.00 and gave the stock a “sector perform” rating in a research note on Monday, March 30th. TD Securities increased their price objective on Aecon Group from C$47.00 to C$49.00 and gave the stock a “buy” rating in a research report on Monday, March 30th. Royal Bank Of Canada increased their price objective on Aecon Group from C$30.00 to C$41.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 10th. Canaccord Genuity Group increased their price objective on Aecon Group from C$40.00 to C$52.00 and gave the stock a “buy” rating in a research report on Monday, March 9th. Finally, Canadian Imperial Bank of Commerce increased their price objective on Aecon Group from C$38.75 to C$44.00 and gave the stock a “hold” rating in a research report on Tuesday, March 31st. Four analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of C$43.88.

About Aecon Group

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.