Lord Abbett & CO. LLC Buys 34,436 Shares of Arcosa, Inc. $ACA

Key Points

• Lord Abbett & CO. LLC increased its holdings in Arcosa, Inc. by 68.5%, owning 84,683 shares valued at approximately $6.5 million as of the latest SEC filing.
• DA Davidson raised its price target for Arcosa shares from $110 to $120, maintaining a "buy" rating, which reflects positive market sentiment.
• In the last quarter, insiders sold a total of 20,582 shares of Arcosa stock, indicating significant insider trading activity.

Lord Abbett & CO. LLC boosted its position in shares of Arcosa, Inc. (NYSE:ACA - Free Report) by 68.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,683 shares of the company's stock after acquiring an additional 34,436 shares during the period. Lord Abbett & CO. LLC owned approximately 0.17% of Arcosa worth $6,531,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Banque Cantonale Vaudoise acquired a new stake in Arcosa in the 1st quarter valued at $28,000. Versant Capital Management Inc raised its holdings in Arcosa by 81.5% during the 1st quarter. Versant Capital Management Inc now owns 804 shares of the company's stock worth $62,000 after purchasing an additional 361 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Arcosa by 223.0% in the first quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock valued at $82,000 after buying an additional 738 shares during the period. SouthState Corp acquired a new position in shares of Arcosa during the 1st quarter worth about $163,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Arcosa in the 4th quarter valued at $221,000. Institutional investors own 90.66% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, DA Davidson boosted their price target on Arcosa from $110.00 to $120.00 and gave the company a "buy" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $112.00.

Arcosa Stock Performance

Arcosa stock traded down $0.2720 during midday trading on Thursday, hitting $95.2380. The company's stock had a trading volume of 73,336 shares, compared to its average volume of 291,367. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.35. The company has a market cap of $4.67 billion, a price-to-earnings ratio of 50.59 and a beta of 1.01. Arcosa, Inc. has a 1-year low of $68.11 and a 1-year high of $113.43. The company has a 50-day moving average price of $89.54 and a two-hundred day moving average price of $86.77.

Arcosa (NYSE:ACA - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.22. Arcosa had a return on equity of 6.25% and a net margin of 3.45%.The firm had revenue of $736.90 million for the quarter, compared to analyst estimates of $754.20 million. During the same quarter last year, the company earned $0.91 EPS. The company's revenue was up 10.9% on a year-over-year basis. Arcosa has set its FY 2025 guidance at EPS. As a group, sell-side analysts predict that Arcosa, Inc. will post 3.23 earnings per share for the current year.

Insider Transactions at Arcosa

In other news, insider Kerry S. Cole sold 7,966 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $95.77, for a total transaction of $762,903.82. Following the transaction, the insider directly owned 19,769 shares of the company's stock, valued at $1,893,277.13. This represents a 28.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bryan Stevenson sold 4,000 shares of Arcosa stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $99.02, for a total value of $396,080.00. Following the transaction, the insider owned 38,089 shares of the company's stock, valued at $3,771,572.78. This trade represents a 9.50% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,582 shares of company stock worth $1,903,406. Company insiders own 2.00% of the company's stock.

Arcosa Company Profile

Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, engineered structures, and transportation markets in the United States. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products.