Maryland State Retirement & Pension System Sells 151 Shares of Arcosa, Inc. (NYSE:ACA)

Maryland State Retirement & Pension System lessened its holdings in Arcosa, Inc. (NYSE:ACA) by 0.9% during the first quarter, Holdings Channel reports. The fund owned 17,570 shares of the company’s stock after selling 151 shares during the period. Maryland State Retirement & Pension System’s holdings in Arcosa were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Arcosa in the fourth quarter valued at about $45,468,000. Synergy Asset Management LLC acquired a new position in Arcosa in the 1st quarter valued at about $5,242,000. First Trust Advisors LP raised its holdings in Arcosa by 17.7% in the 4th quarter. First Trust Advisors LP now owns 374,782 shares of the company’s stock valued at $30,972,000 after acquiring an additional 56,451 shares during the period. Qube Research & Technologies Ltd lifted its position in Arcosa by 22.8% during the third quarter. Qube Research & Technologies Ltd now owns 63,976 shares of the company’s stock worth $4,600,000 after acquiring an additional 11,878 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Arcosa by 224.6% during the third quarter. FMR LLC now owns 69,963 shares of the company’s stock worth $5,030,000 after acquiring an additional 48,411 shares during the period. 90.66% of the stock is owned by institutional investors.

Arcosa Stock Performance

Arcosa stock traded down $1.64 during midday trading on Friday, hitting $80.36. The company’s stock had a trading volume of 18,577 shares, compared to its average volume of 222,634. The company has a 50-day moving average price of $84.48 and a two-hundred day moving average price of $82.43. Arcosa, Inc. has a 1-year low of $61.98 and a 1-year high of $89.44. The company has a market cap of $3.91 billion, a price-to-earnings ratio of 28.08 and a beta of 0.74. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.28 and a quick ratio of 1.36.

Arcosa (NYSE:ACA) last released its quarterly earnings results on Friday, May 3rd. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.21. The company had revenue of $598.60 million during the quarter, compared to the consensus estimate of $580.06 million. Arcosa had a net margin of 6.05% and a return on equity of 6.13%. The firm’s quarterly revenue was up 9.0% on a year-over-year basis. During the same period in the previous year, the business earned $1.06 earnings per share. As a group, sell-side analysts predict that Arcosa, Inc. will post 3.58 earnings per share for the current year.

Arcosa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Monday, July 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.25%. The ex-dividend date of this dividend is Monday, July 15th. Arcosa’s dividend payout ratio (DPR) is currently 6.85%.

Insider Buying and Selling

In other Arcosa news, insider Kerry S. Cole sold 10,978 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $88.71, for a total value of $973,858.38. Following the transaction, the insider now directly owns 18,527 shares of the company’s stock, valued at approximately $1,643,530.17. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, DA Davidson increased their target price on Arcosa from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Arcosa currently has an average rating of “Moderate Buy” and a consensus target price of $93.00.

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.