Royal Bank of Canada Sells 36,708 Shares of 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 lessened its position in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 5.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in AMTM. Nuveen LLC bought a new stake in Amentum during the 1st quarter worth about $5,238,000. Principal Financial Group Inc. lifted its position in Amentum by 18.3% during the 1st quarter. Principal Financial Group Inc. now owns 712,172 shares of the company's stock worth $12,962,000 after buying an additional 110,123 shares in the last quarter. Amalgamated Bank lifted its position in Amentum by 12.3% during the 1st quarter. Amalgamated Bank now owns 43,366 shares of the company's stock worth $789,000 after buying an additional 4,756 shares in the last quarter. KBC Group NV lifted its position in Amentum by 14.3% during the 1st quarter. KBC Group NV now owns 7,339 shares of the company's stock worth $134,000 after buying an additional 918 shares in the last quarter. Finally, Janney Montgomery Scott LLC bought a new stake in Amentum during the 1st quarter worth about $615,000. Institutional investors own 39.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on AMTM shares. Truist Financial boosted 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. The Goldman Sachs Group lifted their price objective on shares of Amentum from $21.00 to $26.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. JMP Securities reissued a "market outperform" rating and issued a $30.00 price objective on shares of Amentum in a research report on Monday, August 18th. Raymond James Financial reaffirmed an "outperform" rating and issued a $30.00 price objective on shares of Amentum in a research report on Monday, August 18th. Finally, Bank of America increased their price objective on shares of Amentum from $26.00 to $27.00 and gave the company a "neutral" rating in a research report on Wednesday, August 13th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $27.30.

Amentum Price Performance

Shares of AMTM stock traded down $0.42 on Wednesday, hitting $22.23. 2,491,305 shares of the company's stock were exchanged, compared to its average volume of 1,275,263. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.58 and a quick ratio of 1.58. Amentum Holdings, Inc. has a 12 month low of $16.01 and a 12 month high of $34.50. The stock has a market cap of $5.41 billion and a P/E ratio of 57.00. The company has a 50 day moving average of $24.68 and a 200 day moving average of $21.95.

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

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.