Wells Fargo & Company MN decreased its holdings in Arcosa Inc (NYSE:ACA) by 11.0% in the 1st quarter, HoldingsChannel reports. The firm owned 181,739 shares of the company’s stock after selling 22,478 shares during the quarter. Wells Fargo & Company MN’s holdings in Arcosa were worth $7,223,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Aperio Group LLC boosted its holdings in shares of Arcosa by 33.0% in the first quarter. Aperio Group LLC now owns 26,495 shares of the company’s stock valued at $1,053,000 after acquiring an additional 6,579 shares in the last quarter. Texas Permanent School Fund lifted its position in Arcosa by 24.3% in the first quarter. Texas Permanent School Fund now owns 41,157 shares of the company’s stock worth $1,636,000 after purchasing an additional 8,058 shares during the period. Rhumbline Advisers lifted its position in Arcosa by 6.1% in the first quarter. Rhumbline Advisers now owns 183,366 shares of the company’s stock worth $7,287,000 after purchasing an additional 10,550 shares during the period. State Street Corp boosted its stake in Arcosa by 9.4% during the 1st quarter. State Street Corp now owns 1,660,350 shares of the company’s stock valued at $65,982,000 after purchasing an additional 142,423 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Arcosa by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 629,095 shares of the company’s stock valued at $28,026,000 after purchasing an additional 15,936 shares during the period. 85.67% of the stock is currently owned by institutional investors.
In other Arcosa news, insider Kerry S. Cole sold 4,482 shares of Arcosa stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $44.51, for a total value of $199,493.82. Following the completion of the sale, the insider now directly owns 33,584 shares in the company, valued at $1,494,823.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronald J. Gafford sold 10,024 shares of the business’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $37.55, for a total transaction of $376,401.20. Following the completion of the sale, the director now directly owns 26,877 shares of the company’s stock, valued at $1,009,231.35. The disclosure for this sale can be found here. 0.45% of the stock is currently owned by company insiders.
A number of research firms recently issued reports on ACA. DA Davidson lifted their target price on Arcosa from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Oppenheimer started coverage on Arcosa in a report on Tuesday, May 12th. They set a “buy” rating and a $52.00 price objective on the stock. Zacks Investment Research cut shares of Arcosa from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, ValuEngine raised shares of Arcosa from a “sell” rating to a “hold” rating in a research report on Thursday, April 2nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. Arcosa presently has an average rating of “Hold” and an average target price of $49.20.
Shares of ACA opened at $42.20 on Wednesday. The business’s 50-day moving average is $38.65 and its 200-day moving average is $40.84. The company has a debt-to-equity ratio of 0.19, a current ratio of 2.77 and a quick ratio of 1.68. The company has a market capitalization of $2.01 billion, a price-to-earnings ratio of 16.78, a P/E/G ratio of 5.37 and a beta of 0.30. Arcosa Inc has a fifty-two week low of $28.14 and a fifty-two week high of $47.85.
Arcosa (NYSE:ACA) last released its quarterly earnings data on Tuesday, April 28th. The company reported $0.71 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.51 by $0.20. The firm had revenue of $488.20 million for the quarter, compared to analyst estimates of $479.22 million. Arcosa had a net margin of 6.46% and a return on equity of 6.78%. The company’s revenue for the quarter was up 18.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.58 EPS. Equities research analysts expect that Arcosa Inc will post 2.28 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date is Tuesday, July 14th. Arcosa’s dividend payout ratio (DPR) is presently 8.51%.
Arcosa Company Profile
Arcosa, Inc manufactures and sells infrastructure-related products and services for the construction, energy, and transportation markets. It operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment offers lightweight and natural construction aggregates, and trench shields and shoring products that are used in construction landscape, including commercial, industrial, road and bridge, and underground construction.
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