Cacti Asset Management LLC Acquires 14,504 Shares of Amentum Holdings, Inc. $AMTM

Key Points

• Cacti Asset Management LLC increased its stake in Amentum Holdings, Inc. by 1.7%, now owning approximately 848,946 shares valued at nearly $19.9 million, making Amentum the firm’s 20th largest holding.
• Amentum reported quarterly earnings of $0.56 EPS, exceeding the consensus estimate of $0.53, with revenue reaching $2.23 billion, although it fell short of analyst projections of $3.51 billion.
• Analyst ratings for Amentum reflect a mix of optimism and caution, with several firms raising their price targets while maintaining a consensus rating of "Hold" and an average target price of $27.30.

Cacti Asset Management LLC lifted its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 1.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 848,946 shares of the company's stock after acquiring an additional 14,504 shares during the period. Amentum accounts for 1.5% of Cacti Asset Management LLC's portfolio, making the stock its 20th biggest holding. Cacti Asset Management LLC owned about 0.35% of Amentum worth $19,908,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. State of Wyoming grew its position in shares of Amentum by 43.3% during the fourth quarter. State of Wyoming now owns 2,756 shares of the company's stock worth $58,000 after acquiring an additional 833 shares during the last quarter. Signaturefd LLC grew its position in shares of Amentum by 108.0% during the first quarter. Signaturefd LLC now owns 1,764 shares of the company's stock worth $32,000 after acquiring an additional 916 shares during the last quarter. KBC Group NV grew its position in shares of Amentum by 14.3% during the first quarter. KBC Group NV now owns 7,339 shares of the company's stock worth $134,000 after acquiring an additional 918 shares during the last quarter. North Growth Management Ltd. grew its position in shares of Amentum by 1.1% during the first quarter. North Growth Management Ltd. now owns 92,000 shares of the company's stock worth $1,669,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Allworth Financial LP grew its position in Amentum by 15.9% in the 1st quarter. Allworth Financial LP now owns 8,266 shares of the company's stock valued at $150,000 after buying an additional 1,133 shares in the last quarter. Institutional investors own 39.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on AMTM. The Goldman Sachs Group increased their target price on shares of Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Bank of America raised their price objective on shares of Amentum from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Raymond James Financial restated an "outperform" rating and set a $30.00 price objective on shares of Amentum in a research report on Monday, August 18th. JMP Securities restated a "market outperform" rating and set a $30.00 price objective on shares of Amentum in a research report on Monday, August 18th. Finally, Truist Financial raised their price objective on shares of Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a research report on Thursday, July 24th. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.30.

Amentum Stock Down 1.9%

Shares of NYSE AMTM traded down $0.42 during mid-day trading on Wednesday, reaching $22.23. The company had a trading volume of 2,491,173 shares, compared to its average volume of 2,157,918. The stock has a fifty day moving average of $24.72 and a two-hundred day moving average of $21.95. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $5.41 billion and a price-to-earnings ratio of 57.00. Amentum Holdings, Inc. has a 12-month low of $16.01 and a 12-month high of $34.50.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.03. The business had revenue of $2.23 billion during the quarter, compared to analyst estimates of $3.51 billion. Amentum had a net margin of 0.41% and a return on equity of 10.90%. Amentum's revenue for the quarter was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. As a group, equities research analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current year.

Amentum Profile

Amentum Holdings, Inc provides engineering and technology solutions to address challenges in science, security, and sustainability. It serves various markets, such as energy and environment, space, intelligence, defense, civilian, commercial, and international markets. The company was incorporated in 2010 and is headquatered in Chantilly, Virginia.