Aecon Group (TSE:ARE) Insider Steven Neil Nackan Sells 1,000 Shares

Key Points

• Insider selling: Steven Neil Nackan sold 1,000 Aecon Group shares at C$44.16 each for C$44,160, reducing his direct ownership by 7.39% to 12,535 shares. He has also sold 1,000 shares in each of two earlier August transactions.
• Stock performance: Aecon shares recently traded at C$43.90, below their 50-day and 200-day moving averages, while the stock’s one-year range is C$19.81 to C$57.72.
• Analyst outlook: Analysts maintain a “Moderate Buy” consensus, with an average price target of C$55.08 versus the recent share price. Aecon reported C$0.33 quarterly EPS on C$1.63 billion in revenue and pays an annualized C$0.77 dividend, yielding about 1.8%.

Aecon Group Inc. (TSE:ARE - Get Free Report) insider Steven Neil Nackan sold 1,000 shares of Aecon Group stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$44.16, for a total value of C$44,160.00. Following the completion of the transaction, the insider directly owned 12,535 shares in the company, valued at approximately C$553,545.60. This represents a 7.39% decrease in their ownership of the stock.

Steven Neil Nackan also recently made the following trade(s):

• On Tuesday, August 18th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.02, for a total transaction of C$47,020.00.
• On Thursday, August 6th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00.

Aecon Group Price Performance

ARE traded up C$0.94 during midday trading on Wednesday, reaching C$43.90. 172,492 shares of the company's stock were exchanged, compared to its average volume of 478,318. The firm has a market capitalization of C$3.01 billion, a price-to-earnings ratio of -46.21, a price-to-earnings-growth ratio of 18.18 and a beta of 1.41. The business has a 50-day simple moving average of C$47.39 and a two-hundred day simple moving average of C$44.97. Aecon Group Inc. has a one year low of C$19.81 and a one year high of C$57.72. The company has a quick ratio of 1.27, a current ratio of 1.08 and a debt-to-equity ratio of 84.23.

Aecon Group (TSE:ARE - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. The company had revenue of C$1.63 billion for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. As a group, research analysts predict that Aecon Group Inc. will post 1.3793321 EPS for the current year.

Aecon Group Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were given a $0.1925 dividend. This represents a $0.77 annualized dividend and a yield of 1.8%. The ex-dividend date was Tuesday, June 23rd. Aecon Group's payout ratio is -80.53%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. National Bank Financial raised their price objective on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an "outperform" rating in a research note on Monday, July 13th. Royal Bank Of Canada raised their price objective on Aecon Group from C$44.00 to C$49.00 and gave the stock a "sector perform" rating in a research note on Thursday, April 30th. Desjardins lifted their price target on shares of Aecon Group from C$55.00 to C$61.00 and gave the company a "hold" rating in a research note on Monday, July 6th. Raymond James Financial raised Aecon Group from a "hold" rating to a "moderate buy" rating and upped their price objective for the stock from C$52.00 to C$60.00 in a research report on Friday, July 3rd. Finally, TD decreased their target price on shares of Aecon Group from C$62.00 to C$61.00 and set a "buy" rating for the company in a research report on Friday, June 26th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of C$55.08.

About Aecon Group

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.

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