Invesco Ltd. decreased its holdings in Arcosa Inc (NYSE:ACA) by 19.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 129,975 shares of the company’s stock after selling 32,302 shares during the quarter. Invesco Ltd. owned 0.27% of Arcosa worth $4,891,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also bought and sold shares of ACA. Gabelli Funds LLC lifted its stake in Arcosa by 4.0% in the second quarter. Gabelli Funds LLC now owns 257,331 shares of the company’s stock worth $9,683,000 after acquiring an additional 10,001 shares during the last quarter. Northern Trust Corp lifted its stake in Arcosa by 11.7% in the second quarter. Northern Trust Corp now owns 290,867 shares of the company’s stock worth $10,946,000 after acquiring an additional 30,534 shares during the last quarter. D.A. Davidson & CO. purchased a new position in Arcosa in the second quarter worth approximately $215,000. Marshall Wace LLP purchased a new position in Arcosa in the first quarter worth approximately $20,750,000. Finally, Cetera Advisors LLC purchased a new position in Arcosa in the second quarter worth approximately $204,000. 84.56% of the stock is owned by institutional investors and hedge funds.
ACA stock opened at $33.01 on Friday. The company has a current ratio of 3.07, a quick ratio of 1.63 and a debt-to-equity ratio of 0.06. Arcosa Inc has a twelve month low of $21.00 and a twelve month high of $39.74. The company’s 50 day moving average is $33.55 and its two-hundred day moving average is $34.15. The stock has a market cap of $1.58 billion and a P/E ratio of 18.14.
Arcosa (NYSE:ACA) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.18. Arcosa had a net margin of 5.66% and a return on equity of 5.14%. The company had revenue of $434.10 million for the quarter, compared to analysts’ expectations of $429.22 million. The company’s revenue was up 23.0% on a year-over-year basis. On average, equities research analysts predict that Arcosa Inc will post 2.25 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Friday, October 11th. This represents a $0.20 dividend on an annualized basis and a yield of 0.61%. Arcosa’s payout ratio is currently 10.99%.
A number of brokerages recently issued reports on ACA. Zacks Investment Research upgraded shares of Arcosa from a “hold” rating to a “buy” rating and set a $38.00 price target for the company in a research note on Tuesday, October 1st. Sidoti assumed coverage on shares of Arcosa in a research note on Wednesday, September 18th. They issued a “buy” rating and a $47.00 price target for the company. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Arcosa has a consensus rating of “Buy” and an average target price of $40.29.
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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