Principal Financial Group Inc. Sells 11,328 Shares of AECOM (NYSE:ACM)

Principal Financial Group Inc. reduced its position in AECOM (NYSE:ACM) by 2.2% during the third quarter, HoldingsChannel reports. The firm owned 497,411 shares of the construction company’s stock after selling 11,328 shares during the period. Principal Financial Group Inc.’s holdings in AECOM were worth $31,411,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ACM. Public Employees Retirement System of Ohio raised its holdings in shares of AECOM by 6.2% in the second quarter. Public Employees Retirement System of Ohio now owns 83,521 shares of the construction company’s stock valued at $5,289,000 after purchasing an additional 4,847 shares during the last quarter. New York State Teachers Retirement System increased its holdings in AECOM by 5.2% during the third quarter. New York State Teachers Retirement System now owns 143,350 shares of the construction company’s stock worth $9,053,000 after buying an additional 7,138 shares during the last quarter. Dark Forest Capital Management LP purchased a new stake in AECOM during the second quarter worth about $46,000. Ethic Inc. purchased a new stake in AECOM during the second quarter worth about $315,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in AECOM by 88.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 786,000 shares of the construction company’s stock worth $49,636,000 after buying an additional 369,000 shares during the last quarter. 84.70% of the stock is currently owned by institutional investors.

NYSE:ACM opened at $73.86 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s fifty day moving average is $73.65 and its 200 day moving average is $67.57. AECOM has a fifty-two week low of $49.34 and a fifty-two week high of $78.62. The firm has a market capitalization of $10.64 billion, a PE ratio of 63.13, a PEG ratio of 1.19 and a beta of 1.49.

AECOM (NYSE:ACM) last released its earnings results on Monday, November 15th. The construction company reported $0.81 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.04. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.37 billion. AECOM had a return on equity of 14.55% and a net margin of 1.30%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Equities analysts forecast that AECOM will post 3.3 EPS for the current year.

AECOM announced that its board has approved a share buyback program on Thursday, September 23rd that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to buy up to 10.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 21st. Investors of record on Wednesday, January 5th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.81%. The ex-dividend date of this dividend is Tuesday, January 4th. AECOM’s payout ratio is currently 51.28%.

In other AECOM news, Director Daniel R. Tishman sold 29,792 shares of the firm’s stock in a transaction dated Monday, October 25th. The stock was sold at an average price of $69.00, for a total value of $2,055,648.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.33% of the stock is owned by company insiders.

A number of equities research analysts recently weighed in on ACM shares. Barclays raised their target price on shares of AECOM from $82.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 17th. KeyCorp lifted their target price on shares of AECOM from $78.00 to $84.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 16th. Argus lifted their target price on shares of AECOM from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, December 30th. Needham & Company LLC lifted their price target on shares of AECOM from $100.00 to $110.00 in a report on Thursday, January 6th. Finally, Citigroup boosted their target price on shares of AECOM from $81.00 to $85.00 and gave the company a “buy” rating in a report on Tuesday, November 16th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $85.67.

About AECOM

AECOM engages in the design, build, finance and operation of infrastructure assets for governments, businesses and organizations. It operates through the following segments: Americas, International, and AECOM Capital. The Americas segment engages in planning, consulting, architectural and engineering design and construction management services to commercial and government clients in the United States, Canada and Latin America in major end markets such as transportation, water, government, facilities, environmental and energy.

Featured Article: If I purchase shares through a brokerage account, am I the holder of record?

Want to see what other hedge funds are holding ACM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AECOM (NYSE:ACM).

Institutional Ownership by Quarter for AECOM (NYSE:ACM)

Receive News & Ratings for AECOM Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AECOM and related companies with MarketBeat.com's FREE daily email newsletter.