AECOM

Management has returned more than 3.5 billion dollars since 2020 via repurchases and dividends, increased the quarterly dividend to 0.31 dollars per share, and had about 884 million dollars of repurchase capacity remaining at March 31, 2026. The portfolio is being sharpened: AECOM exited at‑risk self‑perform construction, transitioned AECOM Capital, and is reviewing strategic alternatives for the Construction Management business to focus on higher‑return design and advisory work.

This playbook aligns with compounding FCF per share and rising margins. Execution risk remains around any divestiture timing and valuations, but the capital allocation philosophy is strong.