Renaissance Technologies LLC Buys New Position in Arcosa, Inc. (NYSE:ACA)

Renaissance Technologies LLC bought a new stake in Arcosa, Inc. (NYSE:ACA) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 22,800 shares of the company’s stock, valued at approximately $1,902,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Greenwich Wealth Management LLC bought a new position in shares of Arcosa during the 2nd quarter valued at about $967,000. Oppenheimer Asset Management Inc. boosted its position in shares of Arcosa by 47.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 7,166 shares of the company’s stock valued at $598,000 after purchasing an additional 2,312 shares in the last quarter. Thornburg Investment Management Inc. boosted its position in shares of Arcosa by 7.6% during the 2nd quarter. Thornburg Investment Management Inc. now owns 166,128 shares of the company’s stock valued at $13,850,000 after purchasing an additional 11,735 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Arcosa by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 12,449 shares of the company’s stock valued at $1,038,000 after purchasing an additional 339 shares in the last quarter. Finally, Levin Capital Strategies L.P. boosted its position in shares of Arcosa by 28.0% during the 2nd quarter. Levin Capital Strategies L.P. now owns 9,745 shares of the company’s stock valued at $813,000 after purchasing an additional 2,131 shares in the last quarter. Institutional investors own 90.66% of the company’s stock.

Arcosa Price Performance

ACA stock opened at $91.67 on Thursday. The company has a current ratio of 2.31, a quick ratio of 1.36 and a debt-to-equity ratio of 0.29. Arcosa, Inc. has a one year low of $61.98 and a one year high of $96.47. The firm has a market capitalization of $4.46 billion, a PE ratio of 31.46 and a beta of 0.72. The firm has a 50-day moving average of $88.01 and a two-hundred day moving average of $85.34.

Arcosa (NYSE:ACA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.08. Arcosa had a net margin of 6.05% and a return on equity of 6.35%. The company had revenue of $664.70 million during the quarter, compared to analyst estimates of $661.54 million. During the same period in the prior year, the firm earned $0.76 earnings per share. The business’s quarterly revenue was up 13.7% on a year-over-year basis. On average, analysts forecast that Arcosa, Inc. will post 3.39 earnings per share for the current year.

Arcosa Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Tuesday, October 15th. Arcosa’s dividend payout ratio is presently 6.85%.

Wall Street Analysts Forecast Growth

ACA has been the subject of several research reports. Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective for the company in a research report on Wednesday, August 7th. Oppenheimer raised their price objective on shares of Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, August 19th.

Insider Buying and Selling at Arcosa

In related news, CEO Antonio Carrillo purchased 12,125 shares of Arcosa stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $82.05 per share, with a total value of $994,856.25. Following the completion of the transaction, the chief executive officer now directly owns 406,275 shares of the company’s stock, valued at $33,334,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Antonio Carrillo purchased 12,125 shares of Arcosa stock in a transaction dated Thursday, August 8th. The stock was acquired at an average cost of $82.05 per share, with a total value of $994,856.25. Following the completion of the transaction, the chief executive officer now directly owns 406,275 shares of the company’s stock, valued at $33,334,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven J. Demetriou purchased 6,000 shares of Arcosa stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the transaction, the director now directly owns 9,943 shares of the company’s stock, valued at $872,001.10. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

Arcosa Company 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.