AECOM (NYSE:ACM) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its holdings in AECOM (NYSE:ACM) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 307,339 shares of the construction company’s stock after selling 3,250 shares during the quarter. Principal Financial Group Inc. owned 0.23% of AECOM worth $32,830,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Principal Securities Inc. boosted its position in AECOM by 95.9% in the 4th quarter. Principal Securities Inc. now owns 237 shares of the construction company’s stock worth $25,000 after purchasing an additional 116 shares in the last quarter. Allworth Financial LP lifted its stake in shares of AECOM by 390.6% in the 4th quarter. Allworth Financial LP now owns 260 shares of the construction company’s stock valued at $29,000 after purchasing an additional 207 shares during the period. Private Trust Co. NA purchased a new stake in AECOM during the third quarter worth $30,000. True Wealth Design LLC grew its position in AECOM by 4,242.9% during the third quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after buying an additional 297 shares during the period. Finally, Wingate Wealth Advisors Inc. purchased a new position in AECOM in the fourth quarter valued at $51,000. Hedge funds and other institutional investors own 85.41% of the company’s stock.

Analyst Ratings Changes

ACM has been the topic of several recent analyst reports. Barclays increased their target price on shares of AECOM from $105.00 to $120.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. Robert W. Baird lowered 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. The Goldman Sachs Group initiated coverage on AECOM in a report on Friday, November 22nd. They issued a “buy” rating and a $130.00 price objective on the stock. KeyCorp reduced their target price on AECOM from $122.00 to $121.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Finally, Truist Financial increased 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. Nine analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $120.38.

AECOM Stock Performance

NYSE:ACM opened at $97.49 on Friday. The company’s 50-day moving average is $106.46 and its two-hundred day moving average is $105.24. AECOM has a 1-year low of $82.23 and a 1-year high of $118.56. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of 27.70, a PEG ratio of 1.69 and a beta of 1.19.

AECOM (NYSE:ACM) last released its quarterly earnings results on Monday, February 3rd. The construction company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.10 by $0.21. AECOM had a net margin of 2.93% and a return on equity of 26.84%. Analysts forecast that AECOM will post 5.1 EPS for the current year.

AECOM announced that its Board of Directors has initiated a share repurchase program on Monday, November 18th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the construction company to purchase up to 6.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.