QRG Capital Management Inc. Grows Position in Arcosa, Inc. (NYSE:ACA)

QRG Capital Management Inc. lifted its position in Arcosa, Inc. (NYSE:ACA) by 15.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 3,018 shares of the company’s stock after purchasing an additional 406 shares during the period. QRG Capital Management Inc.’s holdings in Arcosa were worth $286,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its holdings in Arcosa by 1.2% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock worth $46,139,000 after acquiring an additional 6,673 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Arcosa by 2.2% in the second quarter. Bank of New York Mellon Corp now owns 456,066 shares of the company’s stock worth $38,040,000 after purchasing an additional 9,602 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in Arcosa by 6.9% during the 1st quarter. Russell Investments Group Ltd. now owns 294,928 shares of the company’s stock valued at $25,323,000 after purchasing an additional 18,967 shares during the period. Boston Partners raised its position in Arcosa by 272.6% during the 1st quarter. Boston Partners now owns 220,961 shares of the company’s stock valued at $18,947,000 after purchasing an additional 161,662 shares during the last quarter. Finally, Harbor Capital Advisors Inc. lifted its holdings in Arcosa by 152.2% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock worth $18,512,000 after buying an additional 117,892 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ACA shares. Barclays started coverage on Arcosa in a research note on Tuesday, October 29th. They set an “overweight” rating and a $106.00 target price on the stock. Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective for the company in a report on Wednesday, August 7th. Finally, Oppenheimer lifted their target price on shares of Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research note on Monday, August 19th.

Insiders Place Their Bets

In other news, Director Steven J. Demetriou bought 6,000 shares of Arcosa stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $87.70 per share, with a total value of $526,200.00. Following the completion of the purchase, the director now owns 9,943 shares in the company, valued at $872,001.10. The trade was a 100.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Steven J. Demetriou purchased 6,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were acquired at an average price of $87.70 per share, with a total value of $526,200.00. Following the transaction, the director now owns 9,943 shares of the company’s stock, valued at $872,001.10. This represents a 100.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bryan Stevenson sold 4,000 shares of the stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $83.78, for a total transaction of $335,120.00. Following the transaction, the insider now owns 35,333 shares in the company, valued at approximately $2,960,198.74. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Arcosa Price Performance

Shares of NYSE:ACA opened at $106.24 on Tuesday. Arcosa, Inc. has a fifty-two week low of $68.67 and a fifty-two week high of $107.79. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.77 and a current ratio of 3.61. The business has a 50-day simple moving average of $93.16 and a two-hundred day simple moving average of $88.22. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 40.40 and a beta of 0.71.

Arcosa (NYSE:ACA) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.78 by $0.13. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. The firm had revenue of $640.40 million during the quarter, compared to analyst estimates of $682.52 million. During the same period in the prior year, the business posted $0.73 EPS. Arcosa’s revenue was up 8.2% on a year-over-year basis. On average, analysts expect that Arcosa, Inc. will post 3.38 earnings per share for the current year.

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Tuesday, October 15th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, October 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.19%. Arcosa’s dividend payout ratio is currently 7.60%.

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.