Mitsubishi UFJ Asset Management Co. Ltd. Acquires 16,597 Shares of AECOM (NYSE:ACM)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in AECOM by 16.7% during the first quarter, now owning approximately 116,269 shares valued at about $10.78 million.
• A surge of institutional interest in AECOM was noted, with companies like UBS AM and Northern Trust Corp significantly boosting their shares, reflecting a broader confidence in the firm's growth potential.
• AECOM reported earnings of $1.34 per share for the most recent quarter, surpassing estimates, and revealed an annualized dividend of $1.04 with a yield of 0.9%.

Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in AECOM (NYSE:ACM - Free Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,269 shares of the construction company's stock after purchasing an additional 16,597 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.09% of AECOM worth $10,782,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ACM. Cordatus Wealth Management LLC grew its stake in AECOM by 3.7% in the first quarter. Cordatus Wealth Management LLC now owns 2,867 shares of the construction company's stock worth $266,000 after purchasing an additional 101 shares in the last quarter. Private Trust Co. NA boosted its stake in AECOM by 37.2% in the first quarter. Private Trust Co. NA now owns 413 shares of the construction company's stock valued at $38,000 after acquiring an additional 112 shares during the period. Ellevest Inc. boosted its stake in AECOM by 2.2% in the fourth quarter. Ellevest Inc. now owns 5,820 shares of the construction company's stock valued at $622,000 after acquiring an additional 124 shares during the period. Gateway Investment Advisers LLC boosted its stake in AECOM by 7.8% in the first quarter. Gateway Investment Advisers LLC now owns 2,196 shares of the construction company's stock valued at $204,000 after acquiring an additional 158 shares during the period. Finally, TCTC Holdings LLC raised its holdings in shares of AECOM by 120.3% during the first quarter. TCTC Holdings LLC now owns 304 shares of the construction company's stock valued at $28,000 after buying an additional 166 shares during the last quarter. 85.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank Of Canada boosted their target price on AECOM from $123.00 to $126.00 and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Robert W. Baird lifted their price objective on shares of AECOM from $108.00 to $118.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 6th. Bank of America lifted their price objective on shares of AECOM from $112.50 to $124.00 and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Barclays boosted their price target on shares of AECOM from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Citigroup reiterated a "buy" rating and issued a $137.00 price objective (up from $122.00) on shares of AECOM in a report on Monday, July 28th. Ten investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and an average target price of $128.44.

AECOM Price Performance

AECOM stock traded down $0.70 during trading hours on Friday, hitting $119.42. 307,266 shares of the stock were exchanged, compared to its average volume of 988,901. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market capitalization of $15.82 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.81 and a beta of 0.99. AECOM has a 12 month low of $85.00 and a 12 month high of $122.04. The business's 50-day moving average is $114.04 and its two-hundred day moving average is $104.75.

AECOM (NYSE:ACM - Get Free Report) last released its quarterly earnings results on Monday, August 4th. The construction company reported $1.34 EPS for the quarter, beating the consensus estimate of $1.25 by $0.09. AECOM had a net margin of 3.82% and a return on equity of 27.87%. The business had revenue of $1.94 billion for the quarter, compared to analysts' expectations of $4.33 billion. During the same period in the prior year, the firm earned $1.16 earnings per share. AECOM's revenue was up 6.2% compared to the same quarter last year. Equities research analysts expect that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Wednesday, July 2nd were paid a $0.26 dividend. The ex-dividend date of this dividend was Wednesday, July 2nd. This represents a $1.04 dividend on an annualized basis and a yield of 0.9%. AECOM's dividend payout ratio (DPR) is presently 22.66%.

AECOM 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.