Arcosa, Inc. $ACA Shares Acquired by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp increased its stake in Arcosa by 3,554.1% in the first quarter, ending with 13,045 shares valued at about $1.385 million.
• Arcosa reported better-than-expected earnings for the latest quarter, posting $0.51 EPS versus a $0.13 estimate, though revenue came in below analyst expectations at $571.7 million.
• The company declared a quarterly dividend of $0.05 per share, while analysts currently rate the stock a consensus Hold with an average target price of $138.33.

Fifth Third Bancorp boosted its stake in Arcosa, Inc. (NYSE:ACA - Free Report) by 3,554.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,045 shares of the company's stock after buying an additional 12,688 shares during the quarter. Fifth Third Bancorp's holdings in Arcosa were worth $1,385,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ACA. Franklin Resources Inc. boosted its stake in Arcosa by 2,770.5% during the 4th quarter. Franklin Resources Inc. now owns 736,018 shares of the company's stock worth $78,253,000 after purchasing an additional 710,377 shares during the last quarter. Norges Bank purchased a new position in Arcosa in the 4th quarter worth approximately $68,225,000. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Arcosa by 25.1% during 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 last quarter. Bank of America Corp DE boosted its holdings in shares of Arcosa by 80.5% during the 2nd quarter. Bank of America Corp DE now owns 465,140 shares of the company's stock worth $40,332,000 after purchasing an additional 207,457 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of 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 in the last quarter. 90.66% of the stock is currently owned by hedge funds and other institutional investors.

Arcosa Stock Performance

Shares of ACA stock opened at $145.00 on Friday. The stock's 50-day moving average is $135.31 and its two-hundred day moving average is $122.37. 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 1 year low of $81.91 and a 1 year high of $146.92. The firm has a market cap of $7.12 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 2.13 and a beta of 1.04.

Arcosa (NYSE:ACA - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.51 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.38. The firm had revenue of $571.70 million during 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 was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. Analysts predict that Arcosa, Inc. will post 4.25 earnings per share for the current year.

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Wednesday, July 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Arcosa's dividend payout ratio (DPR) is 4.42%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ACA. Oppenheimer cut Arcosa from an "outperform" rating to a "market perform" rating in a research note on Friday, June 26th. Citigroup cut Arcosa to a "hold" rating in a report on Tuesday, June 23rd. Texas Capital downgraded Arcosa from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Wall Street Zen upgraded shares of Arcosa from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Finally, Barclays upped their target price on shares of Arcosa from $115.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price 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.

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