Principal Financial Group Inc. Purchases 32,164 Shares of Arcosa, Inc. $ACA

Key Points

• Principal Financial Group increased its stake in Arcosa by 13.7% in the first quarter, buying 32,164 additional shares and bringing its total holdings to 266,113 shares valued at about $28.2 million.
• Arcosa has seen mixed analyst sentiment: Barclays raised its price target to $140 and kept an overweight rating, while several other firms recently issued hold or downgraded ratings. The stock’s consensus rating is now Hold with an average target price of $138.33.
• The company beat earnings expectations in its latest quarter, reporting $0.51 EPS versus the $0.13 estimate, though revenue came in below forecasts at $571.7 million. Arcosa also declared a quarterly dividend of $0.05 per share, payable July 31.

Principal Financial Group Inc. raised its position in shares of Arcosa, Inc. (NYSE:ACA - Free Report) by 13.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 266,113 shares of the company's stock after purchasing an additional 32,164 shares during the quarter. Principal Financial Group Inc. owned 0.54% of Arcosa worth $28,245,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ACA. Fifth Third Bancorp raised its position in shares of Arcosa by 3,554.1% during the 1st quarter. Fifth Third Bancorp now owns 13,045 shares of the company's stock valued at $1,385,000 after purchasing an additional 12,688 shares during the period. Kestra Advisory Services LLC increased its stake in Arcosa by 37.3% in the 1st quarter. Kestra Advisory Services LLC now owns 4,884 shares of the company's stock worth $518,000 after buying an additional 1,328 shares in the last quarter. Hodges Capital Management Inc. bought a new stake in Arcosa during the first quarter valued at about $4,088,000. QRG Capital Management Inc. raised its holdings in Arcosa by 7.0% during the first quarter. QRG Capital Management Inc. now owns 3,240 shares of the company's stock valued at $344,000 after acquiring an additional 212 shares during the period. Finally, First Dallas Securities Inc. purchased a new position in shares of Arcosa in the first quarter valued at about $1,053,000. 90.66% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Barclays increased their target price on Arcosa from $115.00 to $140.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Wall Street Zen raised Arcosa from a "sell" rating to a "hold" rating in a report on Saturday, May 30th. Weiss Ratings downgraded Arcosa from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Arcosa from a "strong sell" rating to a "hold" rating in a research report on Monday, June 22nd. Finally, Citigroup downgraded shares of Arcosa to a "hold" rating in a report on Tuesday, June 23rd. Two research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $138.33.

Arcosa Stock Performance

NYSE ACA opened at $144.93 on Monday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.32 and a quick ratio of 1.60. Arcosa, Inc. has a 1-year low of $81.91 and a 1-year high of $146.92. The business has a 50 day simple moving average of $133.62 and a two-hundred day simple moving average of $121.14. The stock has a market capitalization of $7.12 billion, a PE ratio of 31.99, a P/E/G ratio of 2.13 and a beta of 1.04.

Arcosa (NYSE:ACA - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.38. The business had revenue of $571.70 million for the quarter, compared to analysts' expectations of $642.40 million. Arcosa had a return on equity of 8.52% and a net margin of 7.88%.The company's revenue for the quarter was up 5.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. On average, research analysts predict that Arcosa, Inc. will post 4.25 EPS for the current fiscal year.

Arcosa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. Arcosa's dividend payout ratio is presently 4.42%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.