Aecon Group (TSE:ARE) Insider Sells C$44,160.00 in Stock

Aecon Group Inc. (TSE:ARE) insider Steven Neil Nackan sold 1,000 shares of the stock in a transaction that occurred on Monday, August 24th. The stock was sold at an average price of C$44.16, for a total value of C$44,160.00. Following the completion of the transaction, the insider directly owned 12,535 shares of the company’s stock, valued at approximately C$553,545.60. The trade was a 7.39% decrease in their ownership of the stock.

Steven Neil Nackan also recently made the following trade(s):

• On Thursday, August 27th, Steven Neil Nackan sold 4,500 shares of Aecon Group stock. The shares were sold at an average price of C$45.55, for a total value of C$204,975.00.
• On Tuesday, August 18th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.02, for a total value of C$47,020.00.
• On Thursday, August 6th, Steven Neil Nackan sold 1,000 shares of Aecon Group stock. The shares were sold at an average price of C$47.72, for a total value of C$47,720.00.

Aecon Group Stock Performance

Aecon Group stock opened at C$43.61 on Friday. The firm has a market capitalization of C$2.99 billion, a P/E ratio of -45.91, a P/E/G ratio of 18.18 and a beta of 1.41. The stock has a fifty day moving average price of C$47.42 and a two-hundred day moving average price of C$45.08. Aecon Group Inc. has a 52-week low of C$19.81 and a 52-week high of C$57.72. The company has a debt-to-equity ratio of 84.23, a current ratio of 1.08 and a quick ratio of 1.27.

Aecon Group (TSE:ARE) last issued its earnings results on Thursday, July 30th. The company reported C$0.33 EPS for the quarter. Aecon Group had a negative net margin of 1.10% and a negative return on equity of 6.76%. The company had revenue of C$1.63 billion for the quarter. As a group, analysts anticipate that Aecon Group Inc. will post 1.3793321 EPS for the current fiscal year.

Aecon Group Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 3rd. Investors of record on Friday, July 3rd were issued a dividend of $0.1925 per share. This represents a $0.77 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Tuesday, June 23rd. Aecon Group’s dividend payout ratio (DPR) is currently -80.53%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ARE. Canaccord Genuity Group upped their price objective on shares of Aecon Group from C$56.00 to C$57.00 and gave the stock a “buy” rating in a research note on Monday, June 29th. National Bank Financial lifted their target price on shares of Aecon Group from C$59.00 to C$65.00 and gave the company an “outperform” rating in a research note on Monday, July 13th. Desjardins increased their price target on Aecon Group from C$55.00 to C$61.00 and gave the stock a “hold” rating in a research report on Monday, July 6th. Raymond James Financial raised Aecon Group from a “hold” rating to a “moderate buy” rating and raised their price target for the company from C$52.00 to C$60.00 in a report on Friday, July 3rd. Finally, Stifel Nicolaus upgraded Aecon Group from a “hold” rating to a “buy” rating and lifted their price objective for the company from C$46.00 to C$54.00 in a research report on Friday, June 26th. Six research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of C$55.08.

Aecon Group Company Profile

Aecon Group Inc is a Canada-based company that operates in two segments: Construction and Concessions. The Construction segment includes various aspects of the construction of public and private infrastructure projects, mainly in the transportation sector. Its concessions segment is engaged in the development, financing, construction, and operation of infrastructure projects. Aecon generates the majority of its revenue from the Construction segment.