The Manufacturers Life Insurance Company Cuts Stake in Arcosa, Inc. $ACA

The Manufacturers Life Insurance Company reduced its holdings in shares of Arcosa, Inc. (NYSE:ACA) by 16.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 369,232 shares of the company’s stock after selling 71,727 shares during the period. The Manufacturers Life Insurance Company’s holdings in Arcosa were worth $39,190,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Horizon Investments LLC acquired a new position in Arcosa in the fourth quarter valued at $1,925,000. Castleark Management LLC boosted its stake in Arcosa by 53.9% in the 1st quarter. Castleark Management LLC now owns 74,650 shares of the company’s stock worth $7,923,000 after buying an additional 26,150 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Arcosa in the 4th quarter worth about $2,564,000. Principal Financial Group Inc. grew its holdings in Arcosa by 13.7% in the 1st quarter. Principal Financial Group Inc. now owns 266,113 shares of the company’s stock valued at $28,245,000 after buying an additional 32,164 shares during the period. Finally, Impax Asset Management Group plc grew its holdings in Arcosa by 10.6% in the 4th quarter. Impax Asset Management Group plc now owns 156,500 shares of the company’s stock valued at $16,639,000 after buying an additional 15,000 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Arcosa Price Performance

ACA opened at $145.17 on Friday. The company has a quick ratio of 1.60, a current ratio of 2.32 and a debt-to-equity ratio of 0.57. Arcosa, Inc. has a 52-week low of $81.91 and a 52-week high of $146.92. The company has a 50 day moving average of $137.35 and a two-hundred day moving average of $123.48. The company has a market cap of $7.13 billion, a P/E ratio of 32.05, a P/E/G ratio of 2.13 and a beta of 1.04.

Arcosa (NYSE:ACA) last released 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. Arcosa had a net margin of 7.88% and a return on equity of 8.52%. The company had revenue of $571.70 million during the quarter, compared to analyst estimates of $642.40 million. During the same quarter in the prior year, the business earned $0.49 earnings per share. The business’s quarterly revenue was up 5.0% compared to the same quarter last year. On average, analysts expect that Arcosa, Inc. will post 4.25 earnings per share for the current year.

Arcosa Announces Dividend

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 given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Arcosa’s dividend payout ratio is 4.42%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ACA shares. Wall Street Zen upgraded shares of Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Citigroup downgraded shares of Arcosa to a “hold” rating in a report on Tuesday, June 23rd. Oppenheimer lowered shares of Arcosa from an “outperform” rating to a “market perform” rating in a research report on Friday, June 26th. Weiss Ratings downgraded shares of Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 11th. Finally, Texas Capital downgraded shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Arcosa currently has a consensus rating of “Hold” and an average price target of $138.33.

About Arcosa

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.