Gamco Investors INC. ET AL decreased its position in shares of Arcosa, Inc. (NYSE:ACA – Free Report) by 2.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 246,314 shares of the company’s stock after selling 5,523 shares during the period. Gamco Investors INC. ET AL owned 0.51% of Arcosa worth $21,149,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also made changes to their positions in ACA. First Eagle Investment Management LLC boosted its position in Arcosa by 19.4% during the first quarter. First Eagle Investment Management LLC now owns 126,052 shares of the company’s stock worth $10,823,000 after acquiring an additional 20,450 shares during the last quarter. Norges Bank acquired a new position in Arcosa during the 4th quarter worth approximately $45,468,000. UniSuper Management Pty Ltd acquired a new position in Arcosa during the 1st quarter worth approximately $754,000. Synergy Asset Management LLC acquired a new position in shares of Arcosa in the 1st quarter valued at $5,242,000. Finally, Quantbot Technologies LP purchased a new stake in Arcosa in the 1st quarter valued at $1,226,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.
Insiders Place Their Bets
In related news, insider Kerry S. Cole sold 10,978 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $88.71, for a total transaction of $973,858.38. Following the completion of the sale, the insider now owns 18,527 shares of the company’s stock, valued at $1,643,530.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.30% of the company’s stock.
Arcosa Price Performance
Arcosa (NYSE:ACA – Get Free Report) last released its quarterly earnings data on Friday, May 3rd. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.21. The business had revenue of $598.60 million for the quarter, compared to analysts’ expectations of $580.06 million. Arcosa had a return on equity of 6.13% and a net margin of 6.05%. Arcosa’s revenue for the quarter was up 9.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.06 EPS. As a group, sell-side analysts expect that Arcosa, Inc. will post 3.58 earnings per share for the current year.
Arcosa Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Monday, July 15th will be issued a $0.05 dividend. The ex-dividend date is Monday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.22%. Arcosa’s payout ratio is presently 6.85%.
Wall Street Analyst Weigh In
Separately, DA Davidson increased their price objective on shares of Arcosa from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 17th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.00.
Get Our Latest Stock Analysis on Arcosa
Arcosa 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.
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