Arcosa, Inc. (NYSE:ACA) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. lessened its stake in Arcosa, Inc. (NYSE:ACA) by 15.2% in the 1st quarter, Holdings Channel reports. The firm owned 240,679 shares of the company’s stock after selling 43,212 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Arcosa were worth $20,665,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. boosted its position in Arcosa by 1.9% in the 1st quarter. Principal Financial Group Inc. now owns 268,673 shares of the company’s stock valued at $23,068,000 after buying an additional 5,098 shares during the period. Consolidated Investment Group LLC lifted its position in shares of Arcosa by 17.2% during the 1st quarter. Consolidated Investment Group LLC now owns 49,100 shares of the company’s stock worth $4,216,000 after purchasing an additional 7,200 shares during the last quarter. Tradewinds Capital Management LLC purchased a new stake in shares of Arcosa during the 1st quarter worth $114,000. Synergy Asset Management LLC purchased a new stake in shares of Arcosa during the 1st quarter worth $5,242,000. Finally, Guidance Capital Inc. purchased a new stake in shares of Arcosa during the 1st quarter worth $445,000. Institutional investors and hedge funds own 90.66% of the company’s stock.

Arcosa Stock Performance

ACA traded down $0.48 on Friday, reaching $81.52. The company had a trading volume of 185,354 shares, compared to its average volume of 199,439. Arcosa, Inc. has a 1 year low of $61.98 and a 1 year high of $89.44. The stock has a market capitalization of $3.96 billion, a PE ratio of 27.92 and a beta of 0.74. The company has a quick ratio of 1.36, a current ratio of 2.28 and a debt-to-equity ratio of 0.25. The stock has a 50-day moving average price of $84.57 and a 200-day moving average price of $82.44.

Arcosa (NYSE:ACA) last announced 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. Arcosa had a net margin of 6.05% and a return on equity of 6.13%. The firm had revenue of $598.60 million during the quarter, compared to analysts’ expectations of $580.06 million. During the same period in the previous year, the company earned $1.06 earnings per share. Arcosa’s quarterly revenue was up 9.0% compared to the same quarter last year. As a group, research analysts forecast that Arcosa, Inc. will post 3.58 EPS for the current fiscal year.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Monday, July 15th will be given 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 0.25%. Arcosa’s dividend payout ratio (DPR) is presently 6.85%.

Wall Street Analyst Weigh In

Separately, DA Davidson lifted their price objective on shares of Arcosa from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $93.00.

Insider Activity at Arcosa

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

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.