Eagle Asset Management Inc. Lowers Position in Arcosa, Inc. (NYSE:ACA)

Eagle Asset Management Inc. decreased its position in shares of Arcosa, Inc. (NYSE:ACA) by 42.2% during the third quarter, according to its most recent filing with the SEC. The firm owned 107,782 shares of the company’s stock after selling 78,620 shares during the period. Eagle Asset Management Inc. owned about 0.22% of Arcosa worth $10,213,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company raised its holdings in Arcosa by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock worth $46,139,000 after purchasing an additional 6,673 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Arcosa by 2.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 456,066 shares of the company’s stock worth $38,040,000 after buying an additional 9,602 shares during the period. Boston Partners increased its stake in shares of Arcosa by 272.6% in the 1st quarter. Boston Partners now owns 220,961 shares of the company’s stock worth $18,947,000 after acquiring an additional 161,662 shares in the last quarter. Harbor Capital Advisors Inc. lifted its position in Arcosa by 152.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock valued at $18,512,000 after acquiring an additional 117,892 shares during the period. Finally, Thornburg Investment Management Inc. boosted its stake in Arcosa by 7.6% during the second quarter. Thornburg Investment Management Inc. now owns 166,128 shares of the company’s stock worth $13,850,000 after acquiring an additional 11,735 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ACA. Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 target price for the company in a report on Wednesday, August 7th. Barclays began coverage on Arcosa in a research note on Tuesday, October 29th. They set an “overweight” rating and a $106.00 price objective for the company. Finally, Oppenheimer increased their target price on Arcosa from $100.00 to $105.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th.

Arcosa Price Performance

Shares of NYSE ACA opened at $110.58 on Friday. The company has a 50 day moving average of $96.78 and a 200 day moving average of $89.69. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51. The firm has a market cap of $5.39 billion, a P/E ratio of 42.05 and a beta of 0.71. Arcosa, Inc. has a twelve month low of $72.75 and a twelve month high of $111.10.

Arcosa (NYSE:ACA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $640.40 million during the quarter, compared to analyst estimates of $682.52 million. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The business’s revenue for the quarter was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.73 EPS. As a group, research analysts expect that Arcosa, Inc. will post 3.38 EPS for the current fiscal year.

Arcosa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.18%. Arcosa’s dividend payout ratio (DPR) is 7.60%.

Insider Buying and Selling

In other news, Director Steven J. Demetriou purchased 6,000 shares of the stock in a transaction on Thursday, September 12th. The shares were acquired at an average price of $87.70 per share, with a total value of $526,200.00. Following the completion of the acquisition, the director now directly owns 9,943 shares of the company’s stock, valued at $872,001.10. This trade represents a 152.17 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 1.30% of the stock is owned by insiders.

About Arcosa

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.