Coastal Bridge Advisors LLC Trims Holdings in Amentum Holdings, Inc. $AMTM

Coastal Bridge Advisors LLC reduced its stake in Amentum Holdings, Inc. (NYSE:AMTM) by 85.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,505 shares of the company’s stock after selling 51,908 shares during the quarter. Coastal Bridge Advisors LLC’s holdings in Amentum were worth $204,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. State of Alaska Department of Revenue increased its position in shares of Amentum by 13.2% during the second quarter. State of Alaska Department of Revenue now owns 89,832 shares of the company’s stock valued at $2,120,000 after acquiring an additional 10,487 shares during the last quarter. Geode Capital Management LLC raised its position in Amentum by 9.3% in the second quarter. Geode Capital Management LLC now owns 2,513,161 shares of the company’s stock valued at $59,352,000 after purchasing an additional 213,164 shares during the period. Bank of New York Mellon Corp lifted its stake in Amentum by 14.2% during the second quarter. Bank of New York Mellon Corp now owns 868,206 shares of the company’s stock worth $20,498,000 after purchasing an additional 107,697 shares in the last quarter. Voya Investment Management LLC boosted its position in shares of Amentum by 66.5% during the third quarter. Voya Investment Management LLC now owns 1,084,969 shares of the company’s stock worth $25,985,000 after buying an additional 433,397 shares during the period. Finally, Invesco Ltd. grew its stake in shares of Amentum by 13.9% in the second quarter. Invesco Ltd. now owns 19,577,241 shares of the company’s stock valued at $462,219,000 after buying an additional 2,386,131 shares in the last quarter. Hedge funds and other institutional investors own 39.93% of the company’s stock.

Amentum Trading Down 3.6%

NYSE AMTM opened at $35.78 on Friday. Amentum Holdings, Inc. has a 52 week low of $16.01 and a 52 week high of $37.94. The firm has a 50 day moving average of $31.23 and a two-hundred day moving average of $26.44. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $8.72 billion, a PE ratio of 132.52, a price-to-earnings-growth ratio of 1.09 and a beta of -0.01.

Amentum (NYSE:AMTM) last released its quarterly earnings data on Monday, November 24th. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. The business had revenue of $3.93 billion during the quarter, compared to analysts’ expectations of $3.61 billion. Amentum had a net margin of 0.46% and a return on equity of 11.57%. Amentum’s revenue for the quarter was up 10.1% on a year-over-year basis. As a group, research analysts expect that Amentum Holdings, Inc. will post 2.1 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently issued reports on AMTM. Truist Financial increased their target price on Amentum from $34.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, January 14th. JPMorgan Chase & Co. lifted their price objective on shares of Amentum from $30.00 to $34.00 and gave the company a “neutral” rating in a report on Wednesday, November 26th. Wall Street Zen upgraded shares of Amentum from a “buy” rating to a “strong-buy” rating in a report on Friday, January 23rd. Bank of America raised their price target on shares of Amentum from $27.00 to $30.00 and gave the company a “neutral” rating in a research report on Wednesday, December 31st. Finally, Cantor Fitzgerald upped their price objective on Amentum from $35.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $34.50.

Amentum Company Profile

Amentum is a government services provider specializing in mission-critical solutions for defense, federal civilian and commercial customers around the globe. The company delivers integrated services that span the full lifecycle of complex programs and facilities, including engineering, program and project management, logistics, operations, maintenance and environmental remediation.

Core offerings include infrastructure support, energy and facilities management, environmental solutions and nuclear services.