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

Key Points

• Bank of New York Mellon acquired 349,675 Arcosa shares worth approximately $50.8 million, representing a 0.71% stake. Institutional investors collectively own 90.66% of the company.
• Analyst sentiment is mixed, with three Buy ratings and four Hold ratings; Arcosa has a consensus rating of Hold and an average price target of $141.25.
• Arcosa’s latest quarterly results fell short of expectations, reporting $1.13 in EPS versus $1.18 expected and revenue of $658.7 million versus $687.5 million, with revenue down 10.6% year over year.

Bank of New York Mellon Corp bought a new position in shares of Arcosa, Inc. (NYSE:ACA - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 349,675 shares of the company's stock, valued at approximately $50,804,000. Bank of New York Mellon Corp owned 0.71% of Arcosa at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. State of Wyoming bought a new stake in shares of Arcosa during the first quarter worth approximately $30,000. GHP Investment Advisors Inc. bought a new position in Arcosa during the first quarter worth about $32,000. Farther Finance Advisors LLC increased its position 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 acquiring an additional 130 shares during the period. Quarry LP raised its stake in Arcosa by 160.0% in the 3rd quarter. Quarry LP now owns 403 shares of the company's stock worth $38,000 after purchasing an additional 248 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Arcosa by 392.5% in the 4th quarter. Allworth Financial LP now owns 394 shares of the company's stock valued at $42,000 after purchasing an additional 314 shares during the period. 90.66% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ACA has been the topic of several analyst reports. Texas Capital lowered Arcosa from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Barclays raised their target price on shares of Arcosa from $115.00 to $140.00 and gave the company an "overweight" rating in a report on Monday, May 4th. Citigroup cut shares of Arcosa to a "hold" rating in a research report on Tuesday, June 23rd. Stephens set a $150.00 price target on shares of Arcosa in a report on Thursday, August 6th. Finally, Oppenheimer lowered shares of Arcosa from an "outperform" rating to a "market perform" rating in a research report on Friday, June 26th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Arcosa currently has a consensus rating of "Hold" and a consensus price target of $141.25.

Arcosa Price Performance

Arcosa stock opened at $145.51 on Friday. The company has a current ratio of 3.12, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $7.15 billion, a PE ratio of 14.58, a P/E/G ratio of 2.18 and a beta of 1.05. Arcosa, Inc. has a 12 month low of $89.03 and a 12 month high of $146.92. The stock has a 50-day moving average price of $144.88 and a two-hundred day moving average price of $127.68.

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

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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