Activist Investor Jeff Smith’s 2022 Portfolio: Top 5 Stock Picks

3. AECOM (NYSE:ACM)

Starboard Value’s Stake Value: $545,092,000

Percentage of Starboard Value’s 13F Portfolio: 7.22%

Number of Hedge Fund Holders: 32

AECOM (NYSE:ACM)  provides professional infrastructure consulting services for governments, businesses, and organizations in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. As of March 31, Starboard Value’s stakes in AECOM (NYSE:ACM) are valued at $545.09 million, which covers 7.22% of the fund’s 13F portfolio.

This May AECOM (NYSE:ACM) posted earnings for the fiscal second quarter of 2022. The company generated revenues of $3.21 billion, down 1.59% year over year, and missing estimates by $179.80 million. AECOM (NYSE:ACM) reported earnings per share of $0.83, beating expectations by $0.05. As of June 2, AECOM (NYSE:ACM) has returned 9.12% to investors over the past twelve months.

On May 10, Baird analyst Andrew Wittmann cut his price target on AECOM (NYSE:ACM) to $81 from $88 and reiterated an Outperform rating on the shares.

By the end of the first quarter of 2022, 32 hedge funds were long AECOM (NYSE:ACM) with stakes worth $775.38 million. This is compared to 28 hedge funds in the preceding quarter with stakes worth $844.55 million.