AECOM (NYSE:ACM) Shares Sold by Primecap Management Co. CA

Key Points

• Primecap Management Co. CA reduced its stake in AECOM (NYSE:ACM) by 10.8%, selling over 1.2 million shares during the first quarter, bringing its ownership to approximately 10.1 million shares.
• Several institutional investors have notably increased their holdings in AECOM, with Wealth Enhancement Advisory Services LLC raising its stake by 170.2% during the same period.
• AECOM reported earnings of $1.34 per share for the latest quarter, exceeding the expected $1.25 earnings, while also announcing a quarterly dividend of $0.26 per share.

Primecap Management Co. CA decreased its position in shares of AECOM (NYSE:ACM - Free Report) by 10.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,148,730 shares of the construction company's stock after selling 1,232,852 shares during the period. Primecap Management Co. CA owned 7.65% of AECOM worth $941,092,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Cordatus Wealth Management LLC increased its stake in AECOM by 3.7% in the 1st quarter. Cordatus Wealth Management LLC now owns 2,867 shares of the construction company's stock valued at $266,000 after buying an additional 101 shares during the period. Private Trust Co. NA raised its holdings 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 in the last quarter. Ellevest Inc. lifted its position 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 purchasing an additional 124 shares during the period. Bessemer Group Inc. boosted its holdings in AECOM by 0.5% in the 4th quarter. Bessemer Group Inc. now owns 30,959 shares of the construction company's stock valued at $3,307,000 after purchasing an additional 156 shares in the last quarter. Finally, Gateway Investment Advisers LLC increased its position in AECOM by 7.8% during 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 during the period. Institutional investors and hedge funds own 85.41% of the company's stock.

AECOM Price Performance

Shares of AECOM stock traded down $0.77 during trading on Friday, hitting $118.44. 611,592 shares of the company were exchanged, compared to its average volume of 958,858. AECOM has a fifty-two week low of $85.00 and a fifty-two week high of $121.73. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.91. The firm has a 50 day moving average price of $113.22 and a 200 day moving average price of $104.38. The stock has a market capitalization of $15.69 billion, a price-to-earnings ratio of 25.80, a P/E/G ratio of 1.76 and a beta of 0.99.

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

AECOM Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 18th. Stockholders of record on Wednesday, July 2nd were issued a dividend of $0.26 per share. The ex-dividend date was Wednesday, July 2nd. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.9%. AECOM's payout ratio is 22.66%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Robert W. Baird raised their price target on AECOM from $108.00 to $118.00 and gave the company an "outperform" rating in a report on Tuesday, May 6th. Royal Bank Of Canada boosted their target price on shares of AECOM from $123.00 to $126.00 and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Citigroup reiterated a "buy" rating and issued a $137.00 price target (up previously from $122.00) on shares of AECOM in a report on Monday, July 28th. Bank of America raised their price objective on shares of AECOM from $112.50 to $124.00 and gave the company a "buy" rating in a research note on Tuesday, August 5th. Finally, Wall Street Zen upgraded shares of AECOM from a "hold" rating to a "buy" rating in a research report on Saturday. Ten analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and an average price target of $127.33.

AECOM Company 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.