Arcosa, Inc. $ACA Stock: State of Alaska Department of Revenue Reduces Stake

Key Points

• State of Alaska Department of Revenue cut its Arcosa stake by 46.1% in the third quarter, selling 8,798 shares and retaining 10,303 shares valued at approximately $1.5 million. Institutional investors collectively own 90.66% of the company.
• Arcosa’s latest quarterly results fell short of expectations, with EPS of $1.13 versus the $1.18 consensus and revenue of $658.7 million, down 10.6% year over year.
• Shares opened at $147.26, near their 52-week high, while analysts have a consensus “Hold” rating and an average price target of $141.25. The company also declared a quarterly dividend of $0.05 per share.

State of Alaska Department of Revenue lowered its position in Arcosa, Inc. (NYSE:ACA - Free Report) by 46.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,303 shares of the company's stock after selling 8,798 shares during the quarter. State of Alaska Department of Revenue's holdings in Arcosa were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. Fortitude Family Office LLC boosted its position in Arcosa by 1,648.6% during the third quarter. Fortitude Family Office LLC now owns 647 shares of the company's stock valued at $95,000 after buying an additional 610 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Arcosa by 34.2% during the third quarter. GAMMA Investing LLC now owns 1,835 shares of the company's stock worth $268,000 after purchasing an additional 468 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Arcosa by 260.2% during the third quarter. Farther Finance Advisors LLC now owns 1,268 shares of the company's stock worth $185,000 after purchasing an additional 916 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Arcosa by 7.0% during the second quarter. QRG Capital Management Inc. now owns 3,467 shares of the company's stock worth $504,000 after purchasing an additional 227 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Arcosa by 72.7% during the second quarter. Sequoia Financial Advisors LLC now owns 4,475 shares of the company's stock worth $650,000 after purchasing an additional 1,884 shares during the period. Hedge funds and other institutional investors own 90.66% of the company's stock.

Arcosa Trading Up 0.1%

Shares of ACA opened at $147.26 on Tuesday. The firm's 50-day moving average price is $145.92 and its 200-day moving average price is $136.06. The firm has a market capitalization of $7.23 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 2.21 and a beta of 1.08. The company has a current ratio of 3.12, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48. Arcosa, Inc. has a 1-year low of $91.40 and a 1-year high of $147.50.

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

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. Arcosa's dividend payout ratio is currently 2.00%.

Analysts Set New Price Targets

ACA has been the subject of several research analyst reports. Oppenheimer cut Arcosa from an "outperform" rating to a "market perform" rating in a report on Friday, June 26th. Weiss Ratings raised Arcosa from a "buy (b)" rating to a "buy (b+)" rating in a research note on Monday, October 12th. Stephens set a $150.00 target price on Arcosa in a report on Thursday, August 6th. Citigroup downgraded Arcosa to a "hold" rating in a report on Tuesday, June 23rd. Finally, Texas Capital lowered Arcosa from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, June 23rd. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Arcosa currently has an average rating of "Hold" and an average target price of $141.25.

About Arcosa

Arcosa, Inc NYSE: ACA is an infrastructure products company headquartered in Dallas, Texas. The company develops and manufactures products used in construction, transportation, utility and communications infrastructure, and renewable energy projects, serving customers primarily in the United States and other North American markets.

Arcosa's Construction Products segment supplies aggregates, construction materials, drainage and stormwater management products, and related infrastructure solutions.

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