Royal Bank of Canada Trims Holdings in Amentum Holdings, Inc. $AMTM

Key Points

• Royal Bank of Canada has reduced its stake in Amentum Holdings, Inc. by 5.9%, bringing its total shares to 582,195, valued at approximately $10.6 million.
• Amentum reported a 66.2% increase in quarterly revenue year-over-year, but its revenue of $2.23 billion fell short of the analysts' estimate of $3.51 billion.
• Current research analyst ratings include five Buy, four Hold, and one Sell, with a consensus price target of $27.30.

Royal Bank of Canada trimmed its stake in Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 5.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 582,195 shares of the company's stock after selling 36,708 shares during the period. Royal Bank of Canada owned about 0.24% of Amentum worth $10,595,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in the business. American Securities LLC acquired a new position in Amentum during the 1st quarter worth approximately $798,869,000. Primecap Management Co. CA boosted its holdings in shares of Amentum by 56.9% in the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after buying an additional 3,647,210 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Amentum by 24.1% in the 1st quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after buying an additional 3,334,871 shares in the last quarter. Voss Capital LP boosted its holdings in shares of Amentum by 393.7% in the 1st quarter. Voss Capital LP now owns 2,220,709 shares of the company's stock valued at $40,417,000 after buying an additional 1,770,891 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in shares of Amentum by 149.5% in the 4th quarter. Wellington Management Group LLP now owns 2,333,221 shares of the company's stock valued at $49,068,000 after buying an additional 1,398,143 shares in the last quarter. Institutional investors and hedge funds own 39.93% of the company's stock.

Amentum Stock Performance

Shares of AMTM opened at $23.94 on Friday. The company has a 50-day simple moving average of $24.78 and a 200-day simple moving average of $21.87. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $5.83 billion and a PE ratio of 61.39. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $34.50.

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

Wall Street Analyst Weigh In

AMTM has been the subject of several research reports. Raymond James Financial reiterated an "outperform" rating and issued a $30.00 price target on shares of Amentum in a research report on Monday, August 18th. Bank of America upped their price objective on shares of Amentum from $26.00 to $27.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 13th. Royal Bank Of Canada upped their price objective on shares of Amentum from $24.00 to $26.00 and gave the stock a "sector perform" rating in a research report on Thursday, August 7th. 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 upped their price objective 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. Five research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $27.30.

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.

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