NewEdge Advisors LLC Purchases Shares of 16,581 Arcosa, Inc. (NYSE:ACA)

NewEdge Advisors LLC acquired a new position in Arcosa, Inc. (NYSE:ACA) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,581 shares of the company’s stock, valued at approximately $1,383,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Xponance Inc. grew its holdings in Arcosa by 4.4% during the second quarter. Xponance Inc. now owns 3,073 shares of the company’s stock worth $256,000 after buying an additional 130 shares in the last quarter. Sei Investments Co. boosted its holdings in Arcosa by 1.1% during the 2nd quarter. Sei Investments Co. now owns 13,495 shares of the company’s stock worth $1,126,000 after acquiring an additional 146 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Arcosa by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 13,595 shares of the company’s stock worth $1,134,000 after acquiring an additional 195 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Arcosa by 5.5% in the second quarter. Evergreen Capital Management LLC now owns 4,444 shares of the company’s stock valued at $371,000 after purchasing an additional 233 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of Arcosa by 38.8% in the first quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after purchasing an additional 248 shares during the last quarter. 90.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on ACA. Oppenheimer increased their price objective 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. Stephens raised Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price target for the company in a research report on Wednesday, August 7th.

Arcosa Price Performance

ACA opened at $93.30 on Friday. Arcosa, Inc. has a fifty-two week low of $61.98 and a fifty-two week high of $96.47. The firm has a 50-day moving average of $88.13 and a 200 day moving average of $85.54. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.36 and a current ratio of 2.31. The firm has a market cap of $4.53 billion, a P/E ratio of 31.95 and a beta of 0.71.

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

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.21%. Arcosa’s payout ratio is presently 6.85%.

Insider Activity

In other news, CEO Antonio Carrillo acquired 12,125 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average price of $82.05 per share, with a total value of $994,856.25. Following the acquisition, the chief executive officer now owns 406,275 shares in the company, valued at $33,334,863.75. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Arcosa news, CEO Antonio Carrillo acquired 12,125 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was bought at an average cost of $82.05 per share, with a total value of $994,856.25. Following the acquisition, the chief executive officer now owns 406,275 shares in the company, valued at approximately $33,334,863.75. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Steven J. Demetriou acquired 6,000 shares of Arcosa stock in a transaction that occurred on Thursday, September 12th. The stock was acquired at an average price of $87.70 per share, with a total value of $526,200.00. Following the completion of the purchase, the director now directly owns 9,943 shares in the company, valued at $872,001.10. This represents a 100.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 1.30% of the company’s stock.

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.