Bank of New York Mellon Corp Cuts Stock Position in Arcosa, Inc. $ACA

Bank of New York Mellon Corp cut its stake in shares of Arcosa, Inc. (NYSE:ACA - Free Report) by 2.2% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 342,476 shares of the company's stock after selling 7,561 shares during the period. Bank of New York Mellon Corp owned about 0.70% of Arcosa worth $36,350,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ACA. GHP Investment Advisors Inc. acquired a new position in shares of Arcosa during the first quarter valued at approximately $32,000. Farther Finance Advisors LLC raised its stake in Arcosa by 73.4% during the fourth quarter. Farther Finance Advisors LLC now owns 307 shares of the company's stock worth $33,000 after purchasing an additional 130 shares during the period. Quarry LP raised its position in shares of 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. Allworth Financial LP lifted its holdings in Arcosa by 392.5% in the fourth quarter. Allworth Financial LP now owns 394 shares of the company's stock valued at $42,000 after acquiring an additional 314 shares during the last quarter. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. acquired a new position in Arcosa in the fourth quarter valued at approximately $62,000. Institutional investors and hedge funds own 90.66% of the company's stock.

Wall Street Analysts Forecast Growth

ACA has been the subject of a number of recent analyst reports. Texas Capital downgraded Arcosa from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, June 23rd. Oppenheimer lowered shares of Arcosa from an "outperform" rating to a "market perform" rating in a report on Friday, June 26th. Citigroup cut shares of Arcosa to a "hold" rating in a research report on Tuesday, June 23rd. Barclays boosted their target price on Arcosa from $115.00 to $140.00 and gave the company an "overweight" rating in a research report on Monday, May 4th. Finally, Zacks Research raised Arcosa from a "strong sell" rating to a "hold" rating in a research note on Monday, June 22nd. Two equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $138.33.

Arcosa Stock Performance

NYSE ACA opened at $145.00 on Friday. The firm has a market cap of $7.12 billion, a P/E ratio of 32.01, a P/E/G ratio of 2.13 and a beta of 1.04. The company has a quick ratio of 1.60, a current ratio of 2.32 and a debt-to-equity ratio of 0.57. The business's 50-day moving average price is $135.31 and its 200 day moving average price is $122.37. Arcosa, Inc. has a 52-week low of $81.91 and a 52-week high of $146.92.

Arcosa (NYSE:ACA - Get Free Report) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.38. The firm had revenue of $571.70 million for the quarter, compared to the consensus estimate of $642.40 million. Arcosa had a return on equity of 8.52% and a net margin of 7.88%.The company's revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.49 earnings per share. On average, equities research analysts expect that Arcosa, Inc. will post 4.25 earnings per share for the current year.

Arcosa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date is Wednesday, July 15th. Arcosa's payout ratio is presently 4.42%.

About Arcosa

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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