Corebridge Financial Inc. Sells 5,139 Shares of AECOM $ACM

Key Points

• Corebridge Financial Inc. has reduced its stake in AECOM by 3.4%, owning 146,560 shares worth approximately $13.59 million as of its latest SEC filing.
• AECOM reported quarterly earnings of $1.34 EPS, surpassing analysts' expectations, with a revenue of $1.94 billion, marking a 6.2% increase year-over-year.
• Multiple brokerages, including KeyCorp and Bank of America, have increased their price targets on AECOM stock, reflecting a generally positive outlook with a consensus rating of "Buy."

Corebridge Financial Inc. reduced its position in shares of AECOM (NYSE:ACM - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 146,560 shares of the construction company's stock after selling 5,139 shares during the period. Corebridge Financial Inc. owned 0.11% of AECOM worth $13,591,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cordatus Wealth Management LLC lifted its position 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 during the period. Private Trust Co. NA lifted its stake in 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 purchasing an additional 112 shares during the period. Ellevest Inc. lifted its stake in 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 purchasing an additional 124 shares during the period. Gateway Investment Advisers LLC lifted its stake in AECOM by 7.8% during the first 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 during the period. Finally, TCTC Holdings LLC lifted its stake in AECOM by 120.3% during the first quarter. TCTC Holdings LLC now owns 304 shares of the construction company's stock worth $28,000 after purchasing an additional 166 shares during the period. 85.41% of the stock is currently owned by institutional investors.

AECOM Price Performance

Shares of NYSE ACM traded down $0.77 during trading on Friday, reaching $124.97. The company had a trading volume of 938,186 shares, compared to its average volume of 863,626. 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 business's 50 day moving average price is $116.54 and its 200-day moving average price is $106.03. AECOM has a 52 week low of $85.00 and a 52 week high of $126.29. The stock has a market cap of $16.55 billion, a PE ratio of 27.23, a PEG ratio of 1.86 and a beta of 0.99.

AECOM (NYSE:ACM - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The construction company reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.09. The firm had revenue of $1.94 billion during the quarter, compared to analysts' expectations of $4.33 billion. AECOM had a net margin of 3.82% and a return on equity of 27.87%. AECOM's revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.16 EPS. AECOM has set its FY 2025 guidance at 5.200-5.300 EPS. Analysts expect that AECOM will post 5.1 earnings per share for the current year.

AECOM Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 18th. Shareholders of record on Wednesday, July 2nd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend was Wednesday, July 2nd. AECOM's payout ratio is currently 22.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Royal Bank Of Canada raised their target price on AECOM from $123.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. KeyCorp lifted their price objective on AECOM from $129.00 to $131.00 and gave the company an "overweight" rating in a report on Wednesday, August 6th. Barclays lifted their price objective on AECOM from $120.00 to $130.00 and gave the company an "overweight" rating in a report on Tuesday, August 12th. Citigroup reissued a "buy" rating and set a $137.00 price target (up from $122.00) on shares of AECOM in a report on Monday, July 28th. Finally, Robert W. Baird lifted their price target on shares of AECOM from $108.00 to $118.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Nine research analysts have rated the stock with a Buy rating, According to data from MarketBeat, AECOM presently has an average rating of "Buy" and an average price target of $128.44.

Insider Buying and Selling at AECOM

In related news, CEO Troy Rudd sold 53,097 shares of the business's stock in a transaction that occurred on Friday, August 15th. The shares were sold at an average price of $119.56, for a total transaction of $6,348,277.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by company insiders.

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.