Truist Financial Reaffirms Buy Rating for AECOM (NYSE:ACM)

Truist Financial reaffirmed their buy rating on shares of AECOM (NYSE:ACM - Free Report) in a research note released on Wednesday, Benzinga reports. Truist Financial currently has a $113.00 price objective on the construction company's stock, up from their previous price objective of $106.00.

ACM has been the topic of several other reports. Robert W. Baird boosted their price target on AECOM from $104.00 to $110.00 and gave the stock an outperform rating in a report on Tuesday. TheStreet upgraded AECOM from a c+ rating to a b rating in a report on Monday, February 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $109.00 target price on shares of AECOM in a report on Wednesday, February 7th. KeyCorp increased their price target on AECOM from $104.00 to $105.00 and gave the company an overweight rating in a research note on Friday, April 19th. Finally, Barclays lifted their price objective on AECOM from $90.00 to $100.00 and gave the stock an overweight rating in a research note on Tuesday, February 13th. Eight equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, AECOM currently has a consensus rating of Buy and an average price target of $107.43.

AECOM Price Performance

NYSE ACM traded down $0.87 on Wednesday, hitting $92.27. 797,282 shares of the company's stock were exchanged, compared to its average volume of 739,048. The stock has a 50-day moving average of $93.90 and a 200-day moving average of $89.77. The stock has a market cap of $12.55 billion, a price-to-earnings ratio of 207.07, a P/E/G ratio of 1.41 and a beta of 1.23. AECOM has a 52 week low of $74.40 and a 52 week high of $98.72. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.87.

AECOM (NYSE:ACM - Get Free Report) last posted its quarterly earnings results on Monday, May 6th. The construction company reported $1.04 earnings per share for the quarter, missing analysts' consensus estimates of $1.05 by ($0.01). The company had revenue of $3.94 billion during the quarter, compared to analyst estimates of $1.80 billion. AECOM had a net margin of 0.42% and a return on equity of 21.45%. The company's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.92 earnings per share. Analysts expect that AECOM will post 4.43 earnings per share for the current year.

AECOM Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Wednesday, April 24th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, April 23rd. This represents a $0.88 dividend on an annualized basis and a yield of 0.95%. AECOM's payout ratio is currently 195.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of ACM. Norges Bank bought a new stake in shares of AECOM during the fourth quarter valued at approximately $159,060,000. Findlay Park Partners LLP increased its stake in AECOM by 22.6% during the 1st quarter. Findlay Park Partners LLP now owns 2,561,327 shares of the construction company's stock valued at $251,215,000 after purchasing an additional 472,944 shares in the last quarter. Payden & Rygel Investment Group acquired a new position in AECOM during the third quarter worth $24,669,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in AECOM by 1,170.9% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 240,512 shares of the construction company's stock worth $23,589,000 after buying an additional 221,588 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of AECOM by 1,717.1% in the first quarter. SG Americas Securities LLC now owns 163,480 shares of the construction company's stock valued at $16,034,000 after buying an additional 154,483 shares in the last quarter. Institutional investors and hedge funds own 85.41% of the company's stock.

About AECOM

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.