Cubist Systematic Strategies LLC Takes $1.27 Million Position in AECOM (ACM)

Cubist Systematic Strategies LLC purchased a new stake in shares of AECOM (NYSE:ACM) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 39,359 shares of the construction company’s stock, valued at approximately $1,272,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of ACM. UBS Asset Management Americas Inc. boosted its position in AECOM by 10.1% during the first quarter. UBS Asset Management Americas Inc. now owns 105,568 shares of the construction company’s stock valued at $3,757,000 after buying an additional 9,670 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new stake in AECOM during the first quarter valued at about $203,000. JPMorgan Chase & Co. boosted its position in AECOM by 1.6% during the first quarter. JPMorgan Chase & Co. now owns 261,064 shares of the construction company’s stock valued at $9,291,000 after buying an additional 4,032 shares during the period. Stifel Financial Corp purchased a new stake in AECOM during the first quarter valued at about $373,000. Finally, Victory Capital Management Inc. purchased a new stake in AECOM during the first quarter valued at about $772,000. Institutional investors and hedge funds own 82.06% of the company’s stock.

ACM has been the subject of several analyst reports. KeyCorp restated a “buy” rating and set a $40.00 price target on shares of AECOM in a research report on Friday, August 25th. Zacks Investment Research lowered shares of AECOM from a “hold” rating to a “strong sell” rating in a research report on Friday, August 11th. Citigroup Inc. set a $40.00 price target on shares of AECOM and gave the company a “buy” rating in a research report on Thursday, August 17th. Credit Suisse Group lowered shares of AECOM from an “outperform” rating to a “neutral” rating and cut their price target for the company from $44.00 to $37.00 in a research report on Monday, July 24th. Finally, UBS AG set a $38.00 price target on shares of AECOM and gave the company a “buy” rating in a research report on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.80.

In related news, CEO Michael S. Burke sold 56,800 shares of AECOM stock in a transaction dated Thursday, October 5th. The shares were sold at an average price of $36.86, for a total transaction of $2,093,648.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Michael S. Burke sold 30,000 shares of AECOM stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $37.00, for a total transaction of $1,110,000.00. Following the transaction, the chief executive officer now directly owns 154,362 shares of the company’s stock, valued at $5,711,394. The disclosure for this sale can be found here. 0.73% of the stock is currently owned by insiders.

AECOM (NYSE:ACM) last released its quarterly earnings results on Tuesday, August 8th. The construction company reported $0.78 EPS for the quarter, hitting analysts’ consensus estimates of $0.78. AECOM had a net margin of 1.46% and a return on equity of 12.19%. The firm had revenue of $4.56 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the previous year, the company earned $0.81 EPS. The firm’s revenue for the quarter was up 3.5% compared to the same quarter last year.

AECOM declared that its board has approved a share repurchase program on Thursday, September 21st that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the construction company to purchase up to 18.3% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

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AECOM 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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Institutional Ownership by Quarter for AECOM (NYSE:ACM)

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