Arcosa, Inc. (NYSE:ACA) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in Arcosa, Inc. (NYSE:ACA) by 10.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 229,966 shares of the company’s stock after selling 27,472 shares during the period. Principal Financial Group Inc.’s holdings in Arcosa were worth $21,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Arcosa by 1.1% during the third quarter. State Street Corp now owns 1,981,385 shares of the company’s stock worth $187,756,000 after acquiring an additional 22,258 shares during the last quarter. Geode Capital Management LLC boosted its stake in Arcosa by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,129,456 shares of the company’s stock valued at $107,047,000 after purchasing an additional 16,032 shares during the period. Franklin Resources Inc. grew its position in Arcosa by 6.5% in the 3rd quarter. Franklin Resources Inc. now owns 778,246 shares of the company’s stock worth $74,214,000 after purchasing an additional 47,474 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Arcosa by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock valued at $46,139,000 after purchasing an additional 6,673 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in shares of Arcosa by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 456,066 shares of the company’s stock valued at $38,040,000 after buying an additional 9,602 shares during the last quarter. 90.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Barclays started coverage on Arcosa in a research report on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 target price on the stock.

Arcosa Trading Up 1.6 %

Arcosa stock opened at $100.02 on Thursday. Arcosa, Inc. has a 12-month low of $72.75 and a 12-month high of $113.43. The stock has a market capitalization of $4.88 billion, a PE ratio of 38.03 and a beta of 0.74. The firm has a 50 day simple moving average of $102.52 and a 200-day simple moving average of $92.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77.

Arcosa (NYSE:ACA) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.13. The company had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $682.52 million. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period last year, the firm earned $0.73 EPS. As a group, equities research analysts expect that Arcosa, Inc. will post 3.37 EPS for the current fiscal year.

Arcosa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Wednesday, January 15th. Arcosa’s payout ratio is 7.60%.

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.