Eagle Asset Management Inc. Sells 78,620 Shares of Arcosa, Inc. (NYSE:ACA)

Eagle Asset Management Inc. lowered its stake in shares of Arcosa, Inc. (NYSE:ACA) by 42.2% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 107,782 shares of the company’s stock after selling 78,620 shares during the quarter. Eagle Asset Management Inc.’s holdings in Arcosa were worth $10,213,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ACA. Boston Partners grew its stake in Arcosa by 272.6% during the first quarter. Boston Partners now owns 220,961 shares of the company’s stock valued at $18,947,000 after acquiring an additional 161,662 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings in shares of 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 purchasing an additional 117,892 shares during the last quarter. Algert Global LLC purchased a new position in shares of Arcosa during the second quarter valued at about $8,915,000. Synergy Asset Management LLC increased its holdings in shares of Arcosa by 88.5% in the second quarter. Synergy Asset Management LLC now owns 115,097 shares of the company’s stock worth $9,600,000 after purchasing an additional 54,045 shares during the last quarter. Finally, Millennium Management LLC lifted its position in shares of Arcosa by 378.5% in the second quarter. Millennium Management LLC now owns 54,358 shares of the company’s stock worth $4,534,000 after buying an additional 42,997 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Insiders Place Their Bets

In other news, Director Steven J. Demetriou bought 6,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was acquired at an average cost of $87.70 per share, with a total value of $526,200.00. Following the transaction, the director now directly owns 9,943 shares in the company, valued at approximately $872,001.10. This trade represents a 152.17 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.30% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arcosa Trading Up 2.1 %

ACA stock opened at $110.58 on Friday. Arcosa, Inc. has a twelve month low of $72.75 and a twelve month high of $111.10. The stock has a market capitalization of $5.39 billion, a price-to-earnings ratio of 42.05 and a beta of 0.71. 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’s fifty day simple moving average is $96.78 and its two-hundred day simple moving average is $89.69.

Arcosa (NYSE:ACA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.13. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The company had revenue of $640.40 million for the quarter, compared to analyst estimates of $682.52 million. During the same period in the prior year, the company posted $0.73 EPS. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. As a group, analysts anticipate that Arcosa, Inc. will post 3.38 earnings per share for the current year.

Arcosa Dividend Announcement

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

Arcosa Profile

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.