Thornburg Investment Management Inc. Sells 15,528 Shares of Arcosa, Inc. (NYSE:ACA)

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. decreased its position in Arcosa, Inc. (NYSE:ACA - Free Report) by 9.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (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 approximately 0.31% of Arcosa worth $11,524,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Xponance Inc. grew its stake in shares of Arcosa by 4.3% in the 1st quarter. Xponance Inc. now owns 3,654 shares of the company's stock worth $282,000 after acquiring an additional 149 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of Arcosa by 4.5% in the 4th quarter. Captrust Financial Advisors now owns 5,027 shares of the company's stock worth $486,000 after buying an additional 218 shares during the last quarter. Summit Investment Advisors Inc. boosted its holdings in shares of Arcosa by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 5,077 shares of the company's stock worth $491,000 after buying an additional 235 shares during the last quarter. Atlantic Union Bankshares Corp boosted its holdings in shares of Arcosa by 3.1% in the 1st quarter. Atlantic Union Bankshares Corp now owns 9,156 shares of the company's stock worth $706,000 after buying an additional 277 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Arcosa by 12.7% in the 1st quarter. QRG Capital Management Inc. now owns 3,178 shares of the company's stock worth $245,000 after buying an additional 357 shares during the last quarter. Institutional investors own 90.66% of the company's stock.

Arcosa Stock Performance

Shares of NYSE:ACA traded down $2.34 during midday trading on Friday, reaching $83.54. The company had a trading volume of 343,101 shares, compared to its average volume of 268,911. The company's 50 day moving average price is $88.07 and its 200 day moving average price is $87.30. The company has a current ratio of 1.98, a quick ratio of 1.27 and a debt-to-equity ratio of 0.68. The stock has a market cap of $4.08 billion, a P/E ratio of 52.54 and a beta of 1.01. Arcosa, Inc. has a 52-week low of $68.11 and a 52-week high of $113.43.

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

Arcosa Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Tuesday, July 15th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.2%. The ex-dividend date of this dividend was Tuesday, July 15th. Arcosa's payout ratio is 12.58%.

Insider Transactions at Arcosa

In other Arcosa news, insider Jesse E. Jr. Collins sold 8,616 shares of the 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 $1,084,406.40. This trade represents a 40.70% 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, VP Eric D. Hurst sold 835 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $88.57, for a total transaction of $73,955.95. Following the transaction, the vice president owned 4,112 shares of the company's stock, valued at $364,199.84. This represents a 16.88% decrease in their position. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by insiders.

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.