Gamco Investors INC. ET AL Cuts Stake in Arcosa, Inc. $ACA

Gamco Investors INC. ET AL lessened its stake in shares of Arcosa, Inc. (NYSE:ACA) by 3.0% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 179,271 shares of the company’s stock after selling 5,450 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Arcosa were worth $19,028,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Arcosa by 2,770.5% during the 4th quarter. Franklin Resources Inc. now owns 736,018 shares of the company’s stock valued at $78,253,000 after acquiring an additional 710,377 shares during the period. Norges Bank bought a new stake in shares of Arcosa in the 4th quarter worth approximately $68,225,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Arcosa by 25.1% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,707,884 shares of the company’s stock worth $181,583,000 after purchasing an additional 342,242 shares during the period. Bank of America Corp DE lifted its stake in Arcosa by 80.5% in the second quarter. Bank of America Corp DE now owns 465,140 shares of the company’s stock valued at $40,332,000 after purchasing an additional 207,457 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Arcosa by 25.3% in the second quarter. The Manufacturers Life Insurance Company now owns 763,557 shares of the company’s stock valued at $66,208,000 after purchasing an additional 154,172 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.

Arcosa Price Performance

Shares of NYSE ACA opened at $145.00 on Friday. The stock has a market cap of $7.12 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 2.13 and a beta of 1.04. Arcosa, Inc. has a fifty-two week low of $81.91 and a fifty-two week high of $146.92. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.32. The stock has a fifty day moving average of $135.31 and a 200-day moving average of $122.37.

Arcosa (NYSE:ACA) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 EPS. Equities research analysts anticipate that Arcosa, Inc. will post 4.25 earnings per share for the current year.

Arcosa Announces Dividend

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

Analyst Upgrades and Downgrades

ACA has been the subject of a number of recent research reports. Zacks Research raised Arcosa from a “strong sell” rating to a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings cut Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Barclays increased their price target on Arcosa from $115.00 to $140.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Wall Street Zen raised Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Finally, Citigroup cut Arcosa to a “hold” rating in a research note on Tuesday, June 23rd. Two analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $138.33.

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.