David Y. Gan, Chief Legal Officer of AECOM (NYSE:ACM), recently sold shares amounting to approximately $2.32 million, according to a recent SEC filing. The transactions occurred over several days, with shares sold at prices ranging from $110.19 to $111.67 per share. The sales came amid AECOM's strong performance, with the stock up over 25% in the past six months according to InvestingPro data.
On December 16, Gan sold 3,951 shares at an average price of $111.05, followed by 7,549 shares at $111.67. The following day, another 6,362 shares were sold at $110.19, and on December 18, an additional 3,036 shares were sold at $111. Based on InvestingPro's Fair Value analysis, AECOM appears slightly overvalued at current levels, with analysts setting price targets between $98 and $130.
Prior to these transactions, Gan acquired shares through various grants and programs, including a vesting of restricted stock units and acquisitions under AECOM's Performance Earnings Program. These acquisitions, however, did not involve a cash outlay as they were granted at no cost.
After the sales, Gan retains 41,015 shares of AECOM common stock, directly owned.
In other recent news, AECOM has had several noteworthy developments. The company reported robust fourth-quarter earnings for the fiscal year 2024, with significant margin outperformance leading to profits that exceeded expectations, despite lower-than-anticipated revenue. AECOM's focus on margins has been a key element of its long-term strategy, with Baird analysts responding to the earnings report by increasing their stock price target from $113.00 to $122.00 while maintaining an Outperform rating.
AECOM's fiscal year 2025 guidance is slightly higher than the consensus, supported by a book-to-bill ratio greater than 1.0x, indicating a healthy level of contracted work. The company's project pipeline grew by 10% compared to the previous year, maintaining a win rate of approximately 50%. Goldman Sachs initiated coverage on AECOM with a Buy rating, noting the company's potential for double-digit earnings per share growth in the medium term.
On a governance note, Lydia H. Kennard, a member of AECOM's Board of Directors, will not seek reelection at the 2025 Annual Meeting of Stockholders due to personal reasons. Kennard's departure is not due to any disagreement with the company's operations, policies, or practices. These are the recent developments within AECOM as the company continues to demonstrate a promising financial trajectory.
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