Lord Abbett & CO. LLC Increases Stake in 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 holdings in Arcosa, Inc. (NYSE:ACA - Free Report) by 68.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,683 shares of the company's stock after purchasing 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 reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new stake in Arcosa in the first quarter worth $28,000. Versant Capital Management Inc lifted its stake in Arcosa by 81.5% in the first 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 stake in Arcosa by 223.0% in the first quarter. GAMMA Investing LLC now owns 1,069 shares of the company's stock worth $82,000 after purchasing an additional 738 shares during the last quarter. SouthState Corp bought a new stake in Arcosa in the first quarter worth $163,000. Finally, Dark Forest Capital Management LP bought a new stake in Arcosa in the fourth quarter worth $221,000. 90.66% of the stock is owned by institutional investors.

Insider Activity at Arcosa

In related news, insider Kerry S. Cole sold 7,966 shares of the business's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $95.77, for a total transaction of $762,903.82. Following the transaction, the insider owned 19,769 shares in the company, valued at $1,893,277.13. The trade was a 28.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Jesse E. Jr. Collins sold 8,616 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $86.40, for a total transaction of $744,422.40. Following the transaction, the insider owned 12,551 shares in the company, valued at $1,084,406.40. This represents a 40.70% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,582 shares of company stock worth $1,903,406 over the last 90 days. 2.00% of the stock is owned by company insiders.

Arcosa Trading Up 4.1%

Shares of ACA stock traded up $3.89 during mid-day trading on Friday, reaching $99.03. The stock had a trading volume of 43,452 shares, compared to its average volume of 290,925. The stock's 50-day moving average price is $89.70 and its two-hundred day moving average price is $86.74. Arcosa, Inc. has a 52-week low of $68.11 and a 52-week high of $113.43. The firm has a market capitalization of $4.86 billion, a PE ratio of 52.79 and a beta of 1.01. The company has a current ratio of 2.12, a quick ratio of 1.35 and a debt-to-equity ratio of 0.67.

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

Wall Street Analysts Forecast Growth

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

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.