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Aecom board approves increase in share buyback authorization to $1 billion

Aecom board approves increase in share buyback authorization to $1 billion
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Infrastructure consulting firm Aecom said Thursday its board has approved an increase in its share buyback authorization to $1 billion. The Los Angeles-based company said it has repurchased almost $1 billion of stock since last September. It has reduced outstanding shares by 12% in the period. Shares were not active premarket, but have gained 26% in the year to date, while the S&P 500 has gained 17%.