Norges Bank Purchases Shares of 641,695 Arcosa, Inc. $ACA

Norges Bank purchased a new stake in shares of Arcosa, Inc. (NYSE:ACA) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 641,695 shares of the company’s stock, valued at approximately $68,225,000. Norges Bank owned 1.31% of Arcosa at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its position in Arcosa by 73.4% during the fourth quarter. Farther Finance Advisors LLC now owns 307 shares of the company’s stock valued at $33,000 after acquiring an additional 130 shares during the period. Bessemer Group Inc. grew its position in Arcosa by 47.8% during the third quarter. Bessemer Group Inc. now owns 368 shares of the company’s stock valued at $35,000 after acquiring an additional 119 shares during the period. Quarry LP grew its position in Arcosa by 160.0% during the third quarter. Quarry LP now owns 403 shares of the company’s stock valued at $38,000 after acquiring an additional 248 shares during the period. Allworth Financial LP grew its position in Arcosa by 392.5% during the fourth quarter. Allworth Financial LP now owns 394 shares of the company’s stock valued at $42,000 after acquiring an additional 314 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Arcosa during the fourth quarter valued at about $62,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Trading Down 1.4%

NYSE:ACA opened at $122.35 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.32. Arcosa, Inc. has a one year low of $81.91 and a one year high of $135.58. The business’s 50-day simple moving average is $118.48 and its 200 day simple moving average is $114.21. The stock has a market cap of $6.01 billion, a price-to-earnings ratio of 27.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06.

Arcosa (NYSE:ACA) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.51 EPS for the quarter, topping the consensus estimate of $0.13 by $0.38. Arcosa had a return on equity of 8.52% and a net margin of 7.88%.The business had revenue of $571.70 million for the quarter, compared to analysts’ expectations of $642.40 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. The company’s revenue was up 5.0% compared to the same quarter last year. As a group, sell-side analysts predict that Arcosa, Inc. will post 4.25 earnings per share for the current fiscal year.

Arcosa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.05 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.2%. Arcosa’s payout ratio is 4.42%.

Analysts Set New Price Targets

ACA has been the topic of a number of recent research reports. Zacks Research cut Arcosa from a “hold” rating to a “strong sell” rating in a research note on Tuesday, April 28th. Barclays boosted their price objective on Arcosa from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Weiss Ratings cut Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Texas Capital upgraded Arcosa to a “strong-buy” rating in a research note on Friday, March 27th. Finally, DA Davidson boosted their price objective on Arcosa from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Arcosa presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.33.

Arcosa Company Profile

Arcosa, Inc (NYSE: ACA) is a Dallas‐based industrial company that was formed through the spin‐off of Trinity Industries’ construction products business in 2018. Since its inception, Arcosa has focused on the manufacture and sale of critical infrastructure components, serving a diverse set of end markets including transportation, construction and energy.

The company’s Construction Products segment produces a broad range of highway safety products, such as guardrail systems, sign supports and crash cushions, as well as aggregates and ready‐mix concrete.