Stifel Financial Corp Sells 4,743 Shares of Aecom (ACM)
Stifel Financial Corp lessened its position in Aecom (NYSE:ACM) by 43.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,182 shares of the construction company’s stock after selling 4,743 shares during the period. Stifel Financial Corp’s holdings in Aecom were worth $227,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Crow Point Partners LLC bought a new stake in shares of Aecom in the 3rd quarter valued at about $102,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Aecom by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,359 shares of the construction company’s stock valued at $173,000 after buying an additional 576 shares during the last quarter. CIBC Asset Management Inc bought a new stake in shares of Aecom in the 3rd quarter valued at about $204,000. GAM Holding AG bought a new stake in shares of Aecom in the 2nd quarter valued at about $194,000. Finally, ING Groep NV bought a new stake in shares of Aecom in the 3rd quarter valued at about $224,000. 82.36% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts have commented on the company. Zacks Investment Research upgraded Aecom from a “sell” rating to a “hold” rating in a research report on Wednesday, November 15th. UBS Group reiterated a “buy” rating and issued a $4.00 price target (down previously from $40.00) on shares of Aecom in a research report on Tuesday, November 14th. KeyCorp reiterated a “buy” rating on shares of Aecom in a research report on Friday, September 22nd. Argus upped their price target on Aecom from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Monday, November 27th. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded Aecom from a “neutral” rating to an “outperform” rating and upped their price target for the company from $40.00 to $45.00 in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. Aecom presently has a consensus rating of “Hold” and a consensus price target of $32.00.
Aecom (NYSE:ACM) last announced its earnings results on Monday, November 13th. The construction company reported $0.74 EPS for the quarter, beating the consensus estimate of $0.71 by $0.03. Aecom had a return on equity of 12.12% and a net margin of 1.86%. The company had revenue of $4.86 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company earned $0.65 EPS. The firm’s revenue for the quarter was up 12.3% compared to the same quarter last year. research analysts forecast that Aecom will post 2.66 earnings per share for the current year.
Aecom declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 21st that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the construction company to buy up to 18.3% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board believes its shares are undervalued.
In other Aecom news, CEO Michael S. Burke sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The stock was sold at an average price of $39.00, for a total value of $1,170,000.00. Following the transaction, the chief executive officer now owns 157,649 shares in the company, valued at $6,148,311. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director James H. Fordyce sold 4,390 shares of the stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $38.00, for a total value of $166,820.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,326 shares of company stock worth $2,390,904. 0.73% of the stock is owned by corporate insiders.
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Aecom Company Profile
AECOM is engaged in designing, building, financing and operating infrastructure assets for governments, businesses and organizations. The Company’s segments include design and consulting services (DCS), construction services (CS) and management services (MS). Its DCS segment is engaged in planning, consulting, architectural and engineering design services to commercial and government clients in major end markets, such as transportation, facilities, environmental, energy, water and government.
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