Arcosa, Inc. $ACA Shares Sold by HighTower Advisors LLC

Key Points

• HighTower Advisors slashed its Arcosa position by 93.7% in the second quarter, selling 78,271 shares and retaining 5,238 shares valued at approximately $761,000. Institutional investors collectively own 90.66% of Arcosa.
• Arcosa’s latest quarterly results missed expectations: earnings were $1.13 per share versus the $1.18 consensus, while revenue fell 10.6% year over year to $658.7 million.
• Analysts maintain a consensus “Hold” rating with a $141.25 price target, while Arcosa declared a quarterly dividend of $0.05 per share, representing a 0.1% annual yield.

HighTower Advisors LLC reduced its position in Arcosa, Inc. (NYSE:ACA - Free Report) by 93.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 5,238 shares of the company's stock after selling 78,271 shares during the period. HighTower Advisors LLC's holdings in Arcosa were worth $761,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Arcosa by 1.7% during the first quarter. PNC Financial Services Group Inc. now owns 5,268 shares of the company's stock worth $559,000 after buying an additional 90 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Arcosa by 10.4% in the second quarter. GAMMA Investing LLC now owns 1,367 shares of the company's stock valued at $199,000 after acquiring an additional 129 shares during the period. Versant Capital Management Inc grew its position in shares of Arcosa by 15.2% during the second quarter. Versant Capital Management Inc now owns 1,025 shares of the company's stock worth $149,000 after acquiring an additional 135 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Arcosa by 0.4% during the first quarter. Bessemer Group Inc. now owns 40,895 shares of the company's stock worth $4,340,000 after acquiring an additional 143 shares during the last quarter. Finally, QRG Capital Management Inc. increased its holdings in shares of Arcosa by 7.0% in the 1st quarter. QRG Capital Management Inc. now owns 3,240 shares of the company's stock valued at $344,000 after acquiring an additional 212 shares during the period. Hedge funds and other institutional investors own 90.66% of the company's stock.

Arcosa Stock Performance

NYSE:ACA opened at $145.16 on Wednesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.12 and a quick ratio of 2.31. The firm has a market cap of $7.13 billion, a price-to-earnings ratio of 14.54, a price-to-earnings-growth ratio of 2.18 and a beta of 1.07. The firm's fifty day moving average price is $145.20 and its 200 day moving average price is $129.46. Arcosa, Inc. has a 1-year low of $89.03 and a 1-year high of $146.92.

Arcosa (NYSE:ACA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 5th. The company reported $1.13 EPS for the quarter, missing analysts' consensus estimates of $1.18 by ($0.05). The firm had revenue of $658.70 million for the quarter, compared to analysts' expectations of $687.50 million. Arcosa had a return on equity of 7.90% and a net margin of 17.90%.The firm's quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 EPS. On average, sell-side analysts expect that Arcosa, Inc. will post 4.16 EPS for the current year.

Arcosa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Thursday, October 15th will be given a $0.05 dividend. The ex-dividend date is Thursday, October 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 2.00%.

Analyst Ratings Changes

A number of analysts recently weighed in on ACA shares. Texas Capital cut shares of Arcosa from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Weiss Ratings raised shares of Arcosa from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Oppenheimer downgraded shares of Arcosa from an "outperform" rating to a "market perform" rating in a research note on Friday, June 26th. Zacks Research raised Arcosa from a "strong sell" rating to a "hold" rating in a report on Monday, June 22nd. Finally, Wall Street Zen upgraded Arcosa from a "sell" rating to a "hold" rating in a research report on Saturday, May 30th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $141.25.

About Arcosa

Arcosa, Inc NYSE: ACA is an infrastructure-related products and solutions company headquartered in Dallas, Texas. The company serves customers in the construction, utility, transportation and industrial markets, with operations primarily in the United States and a presence in selected international markets.

Arcosa operates through businesses that provide construction products, engineered structures and transportation products. Its offerings include aggregates and other construction materials, concrete and drainage products, utility and communication structures, wind towers, traffic structures, inland barges and rail transportation components.

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