Envestnet Asset Management Inc. Sells 15,035 Shares of Amentum Holdings, Inc. (NYSE:AMTM)

Key Points

• Envestnet Asset Management Inc. sold 15,035 shares of Amentum Holdings, reducing its holdings by 13.4%, leaving it with 97,188 shares valued at approximately $1.77 million at the end of the first quarter.
• Several institutional investors have increased their stakes in Amentum, with Bank of New York Mellon Corp raising its holding by 16.8% and **Principal Financial Group Inc.** increasing by 18.3% in the same period.
• Amentum recently announced a quarterly earnings per share of $0.53, surpassing analysts' estimates of $0.48, and has a stock performance rating of "Hold" with an average target price of $25.89.

Envestnet Asset Management Inc. decreased its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 13.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 97,188 shares of the company's stock after selling 15,035 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Amentum were worth $1,769,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in AMTM. Vanguard Group Inc. grew its stake in shares of Amentum by 18.0% during the 4th quarter. Vanguard Group Inc. now owns 16,542,447 shares of the company's stock valued at $347,888,000 after purchasing an additional 2,529,173 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in Amentum by 10,851.5% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 14,787,345 shares of the company's stock valued at $310,978,000 after buying an additional 14,652,319 shares during the last quarter. Invesco Ltd. raised its position in Amentum by 77.6% in the fourth quarter. Invesco Ltd. now owns 13,856,239 shares of the company's stock worth $291,397,000 after acquiring an additional 6,055,638 shares during the period. Cooper Creek Partners Management LLC raised its position in Amentum by 396.3% in the fourth quarter. Cooper Creek Partners Management LLC now owns 4,157,034 shares of the company's stock worth $87,422,000 after acquiring an additional 3,319,364 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Amentum by 149.5% during the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock valued at $49,068,000 after acquiring an additional 1,398,143 shares during the period. Hedge funds and other institutional investors own 39.93% of the company's stock.

Amentum Stock Down 3.2%

NYSE AMTM traded down $0.79 during trading hours on Friday, reaching $24.18. The company's stock had a trading volume of 1,536,634 shares, compared to its average volume of 1,491,651. The firm's 50-day moving average price is $23.25 and its 200-day moving average price is $21.14. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.01. Amentum Holdings, Inc. has a 1 year low of $16.01 and a 1 year high of $34.50.

Amentum (NYSE:AMTM - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.48 by $0.05. The business had revenue of $3.49 billion during the quarter, compared to analysts' expectations of $3.44 billion. As a group, analysts predict that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

AMTM has been the topic of several analyst reports. Royal Bank Of Canada set a $24.00 target price on Amentum and gave the company a "sector perform" rating in a research report on Wednesday, May 21st. Morgan Stanley started coverage on Amentum in a research note on Wednesday, April 16th. They set an "underweight" rating and a $19.00 price objective for the company. BTIG Research started coverage on shares of Amentum in a research note on Tuesday, April 15th. They set a "buy" rating and a $30.00 target price on the stock. Truist Financial upped their price target on shares of Amentum from $24.00 to $30.00 and gave the stock a "buy" rating in a research report on Thursday, July 24th. Finally, Bank of America initiated coverage on shares of Amentum in a research report on Tuesday, June 10th. They issued a "neutral" rating and a $24.00 price target for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Amentum presently has a consensus rating of "Hold" and an average price target of $25.89.

About Amentum

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.