Neuberger Berman Group LLC Lowers Holdings in Arcosa, Inc. $ACA

Key Points

• Neuberger Berman reduced its stake in Arcosa by 13.3% in Q3, selling 422,321 shares and leaving it with 2,750,373 shares (about 5.61% of the company) valued at roughly $257.7 million.
• Arcosa beat on EPS, reporting $1.15 for the quarter versus a $0.95 consensus while revenue was $716.7 million (slightly below estimates) and revenue rose 7.6% year-over-year; analysts forecast ~$3.23 EPS for the year.
• The company declared a quarterly dividend of $0.05 (annualized $0.20, ~0.2% yield), and analyst sentiment is mixed — DA Davidson raised its price target to $125 (buy) while several others moved to hold, with a consensus target of $120 ("Moderate Buy").

Neuberger Berman Group LLC reduced its position in shares of Arcosa, Inc. (NYSE:ACA - Free Report) by 13.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,750,373 shares of the company's stock after selling 422,321 shares during the period. Neuberger Berman Group LLC owned approximately 5.61% of Arcosa worth $257,684,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in Arcosa by 20.6% during the first quarter. AQR Capital Management LLC now owns 8,326 shares of the company's stock valued at $642,000 after buying an additional 1,423 shares during the period. United Services Automobile Association purchased a new position in Arcosa during the first quarter worth about $256,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Arcosa by 11.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,244 shares of the company's stock worth $11,047,000 after acquiring an additional 14,723 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of Arcosa by 193.8% in the 1st quarter. Jane Street Group LLC now owns 105,243 shares of the company's stock valued at $8,116,000 after acquiring an additional 69,427 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its holdings in shares of Arcosa by 3.9% in the 2nd quarter. Teacher Retirement System of Texas now owns 7,407 shares of the company's stock valued at $642,000 after acquiring an additional 276 shares in the last quarter. Institutional investors own 90.66% of the company's stock.

Arcosa Trading Down 1.8%

Shares of ACA opened at $109.28 on Friday. Arcosa, Inc. has a fifty-two week low of $68.11 and a fifty-two week high of $131.00. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 25.77, a PEG ratio of 1.46 and a beta of 1.01. The firm has a 50 day moving average price of $116.29 and a 200-day moving average price of $105.22. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.20.

Arcosa (NYSE:ACA - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $0.95 by $0.20. The company had revenue of $716.70 million for the quarter, compared to analyst estimates of $719.46 million. Arcosa had a net margin of 7.23% and a return on equity of 8.64%. The firm's quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.46 EPS. As a group, equities research analysts forecast that Arcosa, Inc. will post 3.23 earnings per share for the current year.

Arcosa Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Wednesday, April 15th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend is Wednesday, April 15th. Arcosa's dividend payout ratio (DPR) is 4.72%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ACA shares. DA Davidson lifted their price target on Arcosa from $120.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, March 2nd. Weiss Ratings cut shares of Arcosa from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday. Finally, Wall Street Zen downgraded shares of Arcosa from a "buy" rating to a "hold" rating in a research note on Sunday, March 1st. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $120.00.

Arcosa 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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