Voya Investment Management LLC Boosts Position in Amentum Holdings, Inc. $AMTM

Key Points

• Voya Investment Management LLC increased its stake in Amentum Holdings by 55.4%, owning approximately $11.43 million in shares after acquiring an additional 224,039 shares in the first quarter.
• Amentum reported a quarterly EPS of $0.56, exceeding analysts’ expectations, while its revenue of $2.23 billion was significantly lower than forecasts of $3.51 billion.
• Current consensus among analysts rates Amentum as a "Hold" with a target price of $27.30 post various upgrades from multiple brokerages.

Voya Investment Management LLC lifted its holdings in shares of Amentum Holdings, Inc. (NYSE:AMTM - Free Report) by 55.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 628,154 shares of the company's stock after purchasing an additional 224,039 shares during the quarter. Voya Investment Management LLC owned about 0.26% of Amentum worth $11,432,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. American Securities LLC purchased a new position in Amentum during the 1st quarter valued at about $798,869,000. Primecap Management Co. CA boosted its holdings in Amentum by 56.9% during the 1st quarter. Primecap Management Co. CA now owns 10,061,589 shares of the company's stock valued at $183,121,000 after acquiring an additional 3,647,210 shares during the period. Invesco Ltd. boosted its holdings in Amentum by 24.1% during the 1st quarter. Invesco Ltd. now owns 17,191,110 shares of the company's stock valued at $312,878,000 after acquiring an additional 3,334,871 shares during the period. Voss Capital LP boosted its holdings in Amentum by 393.7% during the 1st quarter. Voss Capital LP now owns 2,220,709 shares of the company's stock valued at $40,417,000 after acquiring an additional 1,770,891 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in 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. 39.93% of the stock is currently owned by hedge funds and other institutional investors.

Amentum Stock Performance

Shares of AMTM stock traded up $0.02 during midday trading on Friday, hitting $22.29. The company had a trading volume of 3,111,432 shares, compared to its average volume of 1,438,739. The company's 50 day simple moving average is $24.62 and its 200 day simple moving average is $22.00. Amentum Holdings, Inc. has a 52-week low of $16.01 and a 52-week high of $34.50. The stock has a market cap of $5.42 billion and a price-to-earnings ratio of 57.16. 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 (NYSE:AMTM - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.56 earnings per share for the quarter, beating 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 company had revenue of $2.23 billion for the quarter, compared to the consensus estimate of $3.51 billion. The firm's revenue for the quarter was up 66.2% compared to the same quarter last year. Amentum has set its FY 2025 guidance at 2.050-2.200 EPS. Research analysts anticipate that Amentum Holdings, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on AMTM. Morgan Stanley raised their target price on Amentum from $19.00 to $20.00 and gave the company an "underweight" rating in a report on Thursday. Raymond James Financial restated an "outperform" rating and set a $30.00 target price on shares of Amentum in a report on Monday, August 18th. JMP Securities restated a "market outperform" rating and set a $30.00 target price on shares of Amentum in a report on Monday, August 18th. Truist Financial raised their target price on Amentum from $24.00 to $30.00 and gave the company a "buy" rating in a report on Thursday, July 24th. Finally, Royal Bank Of Canada increased their price target on Amentum from $24.00 to $26.00 and gave the company a "sector perform" rating in a research report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $27.40.

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.