AECOM (NYSE:ACM) Sees Large Increase in Short Interest

AECOM (NYSE:ACM) was the recipient of a significant growth in short interest during the month of November. As of November 30th, there was short interest totalling 1,970,000 shares, a growth of 11.3% from the November 15th total of 1,770,000 shares. Based on an average daily volume of 825,600 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.5% of the company’s shares are short sold.

AECOM Price Performance

Shares of NYSE:ACM opened at $111.51 on Friday. The company has a 50 day moving average of $110.09 and a 200 day moving average of $98.77. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.03. The stock has a market cap of $14.77 billion, a P/E ratio of 37.67, a P/E/G ratio of 1.92 and a beta of 1.17. AECOM has a 12 month low of $82.23 and a 12 month high of $118.56.

AECOM (NYSE:ACM) last posted its quarterly earnings data on Monday, November 18th. The construction company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.24 by $0.03. AECOM had a net margin of 2.50% and a return on equity of 25.46%. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.86 billion. During the same period in the prior year, the business earned $1.01 earnings per share. AECOM’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that AECOM will post 5.1 EPS for the current fiscal year.

AECOM Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Investors of record on Thursday, January 2nd will be issued a dividend of $0.26 per share. The ex-dividend date is Thursday, January 2nd. This represents a $1.04 annualized dividend and a dividend yield of 0.93%. This is a positive change from AECOM’s previous quarterly dividend of $0.22. AECOM’s dividend payout ratio (DPR) is currently 35.14%.

AECOM declared that its Board of Directors has initiated a share buyback plan on Monday, November 18th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the construction company to repurchase up to 6.8% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ACM. Truist Financial upped their price objective on shares of AECOM from $119.00 to $129.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. The Goldman Sachs Group initiated coverage on AECOM in a report on Friday, November 22nd. They set a “buy” rating and a $130.00 price target for the company. Robert W. Baird boosted their price objective on AECOM from $113.00 to $122.00 and gave the company an “outperform” rating in a research note on Tuesday, November 19th. StockNews.com upgraded AECOM from a “hold” rating to a “buy” rating in a research report on Sunday, October 27th. Finally, KeyCorp lifted their target price on AECOM from $115.00 to $122.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $119.38.

Insider Buying and Selling at AECOM

In other AECOM news, CFO Gaurav Kapoor sold 42,400 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $115.34, for a total transaction of $4,890,416.00. Following the sale, the chief financial officer now directly owns 31,228 shares of the company’s stock, valued at $3,601,837.52. The trade was a 57.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.42% of the company’s stock.

Institutional Investors Weigh In On AECOM

Institutional investors have recently bought and sold shares of the stock. Private Trust Co. NA bought a new stake in AECOM in the 3rd quarter worth $30,000. Family Firm Inc. purchased a new position in AECOM during the 2nd quarter valued at about $31,000. True Wealth Design LLC raised its position in AECOM by 4,242.9% during the 3rd quarter. True Wealth Design LLC now owns 304 shares of the construction company’s stock valued at $31,000 after purchasing an additional 297 shares during the last quarter. UMB Bank n.a. lifted its holdings in AECOM by 196.2% in the 3rd quarter. UMB Bank n.a. now owns 388 shares of the construction company’s stock worth $40,000 after buying an additional 257 shares during the period. Finally, Kathleen S. Wright Associates Inc. bought a new stake in shares of AECOM in the 3rd quarter worth approximately $50,000. 85.41% of the stock is currently owned by hedge funds and other institutional investors.

AECOM Company Profile

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.