Poplar Forest Capital LLC decreased its position in Aecom (NYSE:ACM) by 94.6% in the third quarter, Holdings Channel reports. The fund owned 19,000 shares of the construction company’s stock after selling 331,938 shares during the period. Poplar Forest Capital LLC’s holdings in Aecom were worth $621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds have also recently modified their holdings of ACM. Moneta Group Investment Advisors LLC purchased a new position in Aecom in the 2nd quarter worth $185,000. Paloma Partners Management Co purchased a new position in Aecom in the 2nd quarter worth $242,000. Raymond James & Associates raised its stake in Aecom by 34.6% in the 2nd quarter. Raymond James & Associates now owns 7,952 shares of the construction company’s stock worth $263,000 after acquiring an additional 2,044 shares during the last quarter. Cornerstone Wealth Management LLC purchased a new position in Aecom in the 2nd quarter worth $300,000. Finally, ING Groep NV purchased a new position in Aecom in the 2nd quarter worth $342,000. Institutional investors own 84.34% of the company’s stock.
A number of equities analysts recently issued reports on the company. Citigroup reduced their target price on Aecom from $45.00 to $42.00 and set a “buy” rating for the company in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Aecom from a “sell” rating to a “hold” rating in a research note on Thursday, August 9th. Credit Suisse Group reduced their target price on Aecom from $38.00 to $36.00 and set a “neutral” rating for the company in a research note on Wednesday, August 8th. Argus lowered Aecom from a “buy” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, ValuEngine upgraded Aecom from a “sell” rating to a “hold” rating in a research note on Friday, November 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $35.67.
Aecom (NYSE:ACM) last announced its quarterly earnings results on Tuesday, August 7th. The construction company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.01. The company had revenue of $5.15 billion for the quarter, compared to the consensus estimate of $4.88 billion. Aecom had a return on equity of 9.86% and a net margin of 0.72%. During the same period last year, the firm earned $0.78 EPS. Analysts forecast that Aecom will post 2.67 EPS for the current year.
In other Aecom news, insider Lara Poloni sold 1,607 shares of the stock in a transaction dated Monday, September 17th. The stock was sold at an average price of $32.49, for a total transaction of $52,211.43. Following the sale, the insider now directly owns 2,288 shares of the company’s stock, valued at approximately $74,337.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.74% of the stock is currently owned by company insiders.
AECOM, together with its subsidiaries, engages in designing, building, financing, and operating infrastructure assets worldwide. The company operates through four segments: Design and Consulting Services (DCS), Construction Services (CS), Management Services (MS), and AECOM Capital (ACAP). The DCS segment provides planning, consulting, architectural and engineering design, program management, and construction management services for industrial, commercial, institutional, and government clients, such as transportation, facilities, environmental, and energy/power markets.
Recommended Story: Moving Average – How it Helps Investors in Stock Selection
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).
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.