Legal & General Group Plc Acquires Shares of 114,195 Arcosa, Inc. $ACA

Key Points

• Legal & General Group acquired 114,195 Arcosa shares worth approximately $16.6 million, while other major institutions also increased or initiated positions. Institutional investors collectively own 90.66% of Arcosa.
• Arcosa reported quarterly earnings of $1.13 per share, below the $1.18 consensus estimate, while revenue of $658.7 million declined 10.6% year over year and missed expectations.
• Analysts maintain a consensus “Hold” rating with an average price target of $141.25; Arcosa shares recently traded at $145.30, near their 52-week high.

Legal & General Group Plc bought a new position in Arcosa, Inc. (NYSE:ACA - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 114,195 shares of the company's stock, valued at approximately $16,591,000. Legal & General Group Plc owned approximately 0.23% of Arcosa at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. BlackRock Inc. purchased a new stake in shares of Arcosa in the second quarter valued at approximately $1,222,486,000. Franklin Resources Inc. increased its holdings 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 period. Norges Bank bought a new stake in Arcosa during the 4th quarter valued at $68,225,000. Bank of New York Mellon Corp bought a new stake in Arcosa during the 2nd quarter valued at $50,804,000. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in shares of Arcosa by 25.1% in 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 buying an additional 342,242 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Arcosa Stock Performance

Shares of Arcosa stock opened at $145.30 on Monday. The company has a market capitalization of $7.14 billion, a PE ratio of 14.56, a P/E/G ratio of 2.18 and a beta of 1.05. The company has a 50-day simple moving average of $145.07 and a two-hundred day simple moving average of $127.81. Arcosa, Inc. has a one year low of $89.03 and a one year high of $146.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.31 and a current ratio of 3.12.

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 analysts' consensus estimates of $1.18 by ($0.05). The firm had revenue of $658.70 million during the quarter, compared to the consensus estimate of $687.50 million. Arcosa had a net margin of 17.90% and a return on equity of 7.90%. The firm's quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.27 earnings per share. Research analysts expect that Arcosa, Inc. will post 4.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Stephens set a $150.00 price target on Arcosa in a research report on Thursday, August 6th. Wall Street Zen raised shares of Arcosa from a "sell" rating to a "hold" rating in a research note on Saturday, May 30th. Texas Capital cut shares of Arcosa from a "strong-buy" rating to a "hold" rating in a report on Tuesday, June 23rd. Citigroup downgraded shares of Arcosa to a "hold" rating in a research report on Tuesday, June 23rd. Finally, Weiss Ratings upgraded shares of Arcosa from a "hold (c+)" rating to a "buy (b)" rating in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Arcosa currently has an average rating of "Hold" and an average target price of $141.25.

Arcosa Company 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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