Cheviot Value Management LLC Buys New Shares in AECOM (NYSE:ACM)

Key Points

• Cheviot Value Management LLC has acquired a new stake in AECOM, purchasing 3,475 shares valued at approximately $355,000, as reported in their recent SEC filing.
• AECOM's stock has seen significant support from institutional investors, with 85.41% ownership by this group, including firms like American Century Companies Inc. and Schroder Investment Management Group which increased their stakes recently.
• AECOM reported earnings of $1.25 per share for the last quarter, exceeding analysts' expectations and showcasing a 2.6% year-over-year revenue growth, although revenue fell short of predictions at $3.77 billion.

Cheviot Value Management LLC purchased a new position in AECOM (NYSE:ACM - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,475 shares of the construction company's stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ACM. Cordatus Wealth Management LLC lifted its holdings in AECOM by 3.7% during the 1st 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 during the last quarter. Private Trust Co. NA grew its stake in shares of AECOM by 37.2% during the first quarter. Private Trust Co. NA now owns 413 shares of the construction company's stock worth $38,000 after buying an additional 112 shares during the last quarter. Ellevest Inc. increased its holdings in shares of AECOM by 2.2% during the fourth quarter. Ellevest Inc. now owns 5,820 shares of the construction company's stock worth $622,000 after buying an additional 124 shares in the last quarter. Bessemer Group Inc. grew its position in AECOM by 0.5% during the 4th quarter. Bessemer Group Inc. now owns 30,959 shares of the construction company's stock worth $3,307,000 after acquiring an additional 156 shares during the last quarter. Finally, Gateway Investment Advisers LLC increased its holdings in AECOM by 7.8% in the 1st quarter. Gateway Investment Advisers LLC now owns 2,196 shares of the construction company's stock worth $204,000 after purchasing an additional 158 shares in the last quarter. 85.41% of the stock is currently owned by institutional investors and hedge funds.

AECOM Trading Up 7.2%

AECOM stock traded up $8.06 during mid-day trading on Tuesday, hitting $120.00. The company's stock had a trading volume of 513,032 shares, compared to its average volume of 995,228. The stock has a market cap of $15.88 billion, a price-to-earnings ratio of 26.14, a price-to-earnings-growth ratio of 1.80 and a beta of 0.99. The business has a 50 day moving average price of $112.44 and a 200-day moving average price of $104.10. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.15 and a quick ratio of 1.15. AECOM has a 12 month low of $85.00 and a 12 month high of $121.73.

AECOM (NYSE:ACM - Get Free Report) last announced its quarterly earnings results on Monday, August 4th. The construction company reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.09. The business had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $4.33 billion. AECOM had a net margin of 3.85% and a return on equity of 27.67%. The firm's revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. As a group, analysts forecast that AECOM will post 5.1 EPS for the current year.

AECOM Announces Dividend

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

Wall Street Analysts Forecast Growth

ACM has been the topic of several research reports. Bank of America boosted their price target on AECOM from $112.50 to $124.00 and gave the stock a "buy" rating in a report on Tuesday. KeyCorp increased their price target on AECOM from $120.00 to $129.00 and gave the stock an "overweight" rating in a report on Wednesday, July 16th. Citigroup reaffirmed a "buy" rating and set a $137.00 target price (up previously from $122.00) on shares of AECOM in a research note on Monday, July 28th. Royal Bank Of Canada raised their target price on AECOM from $123.00 to $126.00 and gave the company an "outperform" rating in a report on Wednesday, May 7th. Finally, Truist Financial reduced their target price on shares of AECOM from $129.00 to $121.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $125.63.

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.