Gabelli Funds LLC Sells 26,500 Shares of Arcosa, Inc. (NYSE:ACA)

Gabelli Funds LLC trimmed its stake in Arcosa, Inc. (NYSE:ACA) by 13.4% in the 1st quarter, HoldingsChannel reports. The fund owned 170,691 shares of the company’s stock after selling 26,500 shares during the quarter. Gabelli Funds LLC’s holdings in Arcosa were worth $14,656,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Criterion Capital Advisors LLC bought a new position in shares of Arcosa in the 4th quarter worth $33,000. ICA Group Wealth Management LLC bought a new position in shares of Arcosa in the 4th quarter worth $33,000. McGlone Suttner Wealth Management Inc. bought a new position in shares of Arcosa in the 4th quarter worth $36,000. Scarborough Advisors LLC acquired a new position in Arcosa during the 4th quarter valued at about $42,000. Finally, Covestor Ltd increased its position in Arcosa by 38.8% during the 1st quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after buying an additional 248 shares in the last quarter. 90.66% of the stock is owned by institutional investors.

Insider Buying and Selling at Arcosa

In other Arcosa news, insider Kerry S. Cole sold 10,978 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $88.71, for a total transaction of $973,858.38. Following the sale, the insider now owns 18,527 shares in the company, valued at approximately $1,643,530.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.30% of the company’s stock.

Arcosa Stock Up 2.7 %

NYSE:ACA traded up $2.39 during mid-day trading on Friday, hitting $92.12. 129,917 shares of the company’s stock traded hands, compared to its average volume of 247,119. The company has a fifty day moving average of $85.50 and a 200 day moving average of $83.07. Arcosa, Inc. has a twelve month low of $61.98 and a twelve month high of $93.07. The company has a market capitalization of $4.48 billion, a P/E ratio of 31.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.36 and a current ratio of 2.28.

Arcosa (NYSE:ACA) last posted its quarterly earnings results on Friday, May 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.21. The business had revenue of $598.60 million for the quarter, compared to the consensus estimate of $580.06 million. Arcosa had a return on equity of 6.13% and a net margin of 6.05%. The company’s quarterly revenue was up 9.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.06 EPS. On average, analysts forecast that Arcosa, Inc. will post 3.58 EPS for the current year.

Arcosa Dividend Announcement

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

Analyst Ratings Changes

Separately, DA Davidson upped their target price on Arcosa from $105.00 to $110.00 and gave the company a “buy” rating in a research report on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $93.00.

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.