Principal Financial Group Inc. Acquires 32,164 Shares of Arcosa, Inc. $ACA

Principal Financial Group Inc. increased its stake in Arcosa, Inc. (NYSE:ACA) by 13.7% in the 1st quarter, HoldingsChannel reports. The fund owned 266,113 shares of the company’s stock after acquiring an additional 32,164 shares during the period. Principal Financial Group Inc.’s holdings in Arcosa were worth $28,245,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ACA. GHP Investment Advisors Inc. bought a new stake in shares of Arcosa in the 1st quarter valued at approximately $32,000. Farther Finance Advisors LLC increased its position in shares of Arcosa by 73.4% during the 4th quarter. Farther Finance Advisors LLC now owns 307 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Allworth Financial LP raised its holdings in Arcosa by 392.5% during the 4th quarter. Allworth Financial LP now owns 394 shares of the company’s stock valued at $42,000 after buying an additional 314 shares during the period. Quarry LP raised its holdings in Arcosa by 160.0% during the 3rd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $38,000 after buying an additional 248 shares during the period. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new stake in Arcosa in the fourth quarter worth $62,000. 90.66% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have commented on ACA. Barclays lifted their price objective on shares of Arcosa from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Oppenheimer lowered shares of Arcosa from an “outperform” rating to a “market perform” rating in a report on Friday, June 26th. Wall Street Zen raised shares of Arcosa from a “sell” rating to a “hold” rating in a research note on Saturday, May 30th. Zacks Research raised shares of Arcosa from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Finally, Citigroup lowered shares of Arcosa to a “hold” rating in a research report on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Arcosa has a consensus rating of “Hold” and an average price target of $138.33.

Arcosa Stock Down 0.1%

Shares of NYSE:ACA opened at $144.93 on Monday. The business’s 50 day moving average is $133.62 and its 200 day moving average is $121.14. The stock has a market cap of $7.12 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 2.13 and a beta of 1.04. Arcosa, Inc. has a 52-week low of $81.91 and a 52-week high of $146.92. The company has a quick ratio of 1.60, a current ratio of 2.32 and a debt-to-equity ratio of 0.57.

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

Arcosa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. Arcosa’s dividend payout ratio (DPR) is presently 4.42%.

Arcosa 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.