Arcosa, Inc. (NYSE:ACA) Stake Trimmed by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its stake in Arcosa, Inc. by 9.4%, selling 15,528 shares during the first quarter, now holding a total of 149,428 shares valued at approximately $11.5 million.
• Arcosa reported a quarterly earnings result of $0.49 EPS, exceeding analysts' expectations of $0.29, with revenue of $632 million, reflecting a 5.6% increase year-over-year.
• The company has declared a quarterly dividend of $0.05 per share, scheduled for payment on July 31, with a dividend yield of 0.23%.

Thornburg Investment Management Inc. lowered its stake in Arcosa, Inc. (NYSE:ACA - Free Report) by 9.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 149,428 shares of the company's stock after selling 15,528 shares during the quarter. Thornburg Investment Management Inc. owned about 0.31% of Arcosa worth $11,524,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ACA. Norges Bank acquired a new stake in shares of Arcosa during the fourth quarter worth approximately $73,178,000. Neuberger Berman Group LLC boosted its stake in Arcosa by 21.6% during the 4th quarter. Neuberger Berman Group LLC now owns 3,016,597 shares of the company's stock valued at $291,831,000 after acquiring an additional 536,349 shares during the last quarter. Capital International Investors grew its holdings in Arcosa by 42.5% during the 4th quarter. Capital International Investors now owns 888,559 shares of the company's stock worth $85,959,000 after acquiring an additional 265,056 shares in the last quarter. Oberweis Asset Management Inc. bought a new stake in shares of Arcosa in the 4th quarter worth about $19,638,000. Finally, Bank of America Corp DE increased its position in shares of Arcosa by 197.7% in the 4th quarter. Bank of America Corp DE now owns 282,061 shares of the company's stock worth $27,287,000 after purchasing an additional 187,306 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

Arcosa Stock Down 0.8%

Shares of ACA stock traded down $0.74 during trading hours on Wednesday, hitting $87.26. 303,290 shares of the company were exchanged, compared to its average volume of 254,649. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 54.88 and a beta of 0.99. Arcosa, Inc. has a one year low of $68.11 and a one year high of $113.43. The business's 50-day simple moving average is $88.03 and its two-hundred day simple moving average is $87.44. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.27 and a current ratio of 1.98.

Arcosa (NYSE:ACA - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.20. Arcosa had a return on equity of 5.59% and a net margin of 3.00%. The firm had revenue of $632.00 million for the quarter, compared to analyst estimates of $613.95 million. During the same period last year, the company earned $0.73 earnings per share. The firm's revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts predict that Arcosa, Inc. will post 3.23 EPS for the current fiscal year.

Arcosa Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Tuesday, July 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Tuesday, July 15th. Arcosa's dividend payout ratio (DPR) is presently 12.58%.

Insider Buying and Selling at Arcosa

In other news, insider Jesse E. Jr. Collins sold 8,616 shares of the firm'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 completion of the transaction, the insider owned 12,551 shares in the company, valued at approximately $1,084,406.40. This trade represents a 40.70% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Eric D. Hurst sold 835 shares of Arcosa stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $88.57, for a total transaction of $73,955.95. Following the completion of the transaction, the vice president directly owned 4,112 shares in the company, valued at $364,199.84. This represents a 16.88% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 2.00% of the company's stock.

About Arcosa

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.