Thematics Asset Management Reduces Stake in AECOM by 5.1%

Thematics Asset Management has reduced its stake in AECOM (NYSE: ACM) by 5.1% during the third quarter of 2023. According to the fund’s latest 13F filing with the Securities and Exchange Commission (SEC), Thematics now holds 112,081 shares following the sale of 6,000 shares. The current value of their holdings stands at approximately $14,623,000.

Other institutional investors have also adjusted their positions in AECOM. Notably, Westend Capital Management LLC and Atlantic Union Bankshares Corp each acquired new stakes valued at $26,000 during the same period. Additionally, EverSource Wealth Advisors LLC significantly increased its stake by 189.3%, bringing its total ownership to 298 shares, valued at $34,000 after acquiring an additional 195 shares.

Investor Activity and Market Response

Ameriflex Group Inc. doubled its holdings in AECOM during the third quarter, now owning 294 shares worth $38,000. Meanwhile, Optiver Holding B.V. expanded its position by 219.8%, owning 307 shares valued at $40,000. Collectively, institutional investors and hedge funds own approximately 85.41% of AECOM’s stock.

On Friday, AECOM’s stock opened at $91.07, reflecting a 1.4% increase. The company holds a market capitalization of $11.77 billion with a price-to-earnings ratio of 25.87. The stock’s 50-day simple moving average is $96.29, while the 200-day average stands at $111.49. AECOM’s financial ratios indicate a debt-to-equity ratio of 1.08 and a current ratio of 1.10, with a fifty-two week trading range between $85.00 and $135.52.

AECOM’s Upcoming Dividend and Analyst Ratings

In addition to the recent trading activity, AECOM has announced a quarterly dividend of $0.31, scheduled for payment on April 17, 2024. Shareholders on record as of April 1, 2024, will receive this dividend, representing an annualized payout of $1.24 and a yield of 1.4%. The company’s dividend payout ratio is currently 35.23%.

Analysts have offered their insights on AECOM shares, with several adjusting their price targets. Barclays raised its price objective from $100.00 to $110.00, maintaining an “equal weight” rating. Conversely, The Goldman Sachs Group decreased its target from $148.00 to $127.00, while still issuing a “buy” rating. Truist Financial has also reaffirmed its “buy” rating, increasing its price target to $132.00.

Overall, AECOM has received nine “buy” ratings and four “hold” ratings from investment analysts. According to data from MarketBeat, AECOM holds a consensus rating of “Moderate Buy” with an average target price of $130.09.

AECOM is a multinational infrastructure consulting firm, offering a diverse range of professional technical and management services. The company focuses on various sectors, including transportation, water management, energy, and environmental services, catering to both public and private clients throughout the project lifecycle.

For those interested in tracking AECOM’s performance, further information on hedge fund holdings and insider trades can be accessed through various financial platforms.