Public Employees Retirement System of Ohio acquired a new position in shares of Arcosa Inc (NYSE:ACA) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 18,148 shares of the company’s stock, valued at approximately $503,000.
A number of other institutional investors have also modified their holdings of the stock. Shine Investment Advisory Services Inc. acquired a new stake in Arcosa during the 4th quarter worth $31,000. Metropolitan Life Insurance Co. NY acquired a new stake in Arcosa during the 4th quarter worth $33,000. FTB Advisors Inc. acquired a new stake in Arcosa during the 4th quarter worth $63,000. LSV Asset Management acquired a new stake in Arcosa during the 4th quarter worth $62,000. Finally, Bessemer Group Inc. acquired a new stake in Arcosa during the 4th quarter worth $67,000. 81.86% of the stock is currently owned by institutional investors and hedge funds.
Several analysts recently commented on the company. Zacks Investment Research raised Arcosa from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, January 8th. ValuEngine raised Arcosa from a “sell” rating to a “hold” rating in a research note on Friday, February 8th. Stephens assumed coverage on Arcosa in a research note on Monday, March 18th. They set an “equal weight” rating on the stock. Oppenheimer assumed coverage on Arcosa in a research note on Monday, March 4th. They set an “outperform” rating and a $40.00 price objective on the stock. Finally, DA Davidson assumed coverage on Arcosa in a research note on Thursday, March 21st. They set a “buy” rating and a $29.74 price objective on the stock. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $39.15.
Arcosa (NYSE:ACA) last released its earnings results on Wednesday, February 27th. The company reported $0.40 earnings per share (EPS) for the quarter. The firm had revenue of $374.40 million for the quarter, compared to the consensus estimate of $358.55 million. The company’s revenue was up 7.7% on a year-over-year basis. As a group, sell-side analysts forecast that Arcosa Inc will post 1.87 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Monday, April 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.65%. The ex-dividend date is Friday, April 12th. Arcosa’s dividend payout ratio (DPR) is presently 10.99%.
In other Arcosa news, major shareholder Valueact Capital Master Fund, sold 1,395,000 shares of the stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $33.02, for a total transaction of $46,062,900.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is currently owned by corporate insiders.
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Arcosa, Inc manufactures and sells infrastructure-related products and services for the construction, energy, and transportation markets. It operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment offers lightweight and natural construction aggregates, and trench shields and shoring products that are used in construction landscape, including commercial, industrial, road and bridge, and underground construction.
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