Thornburg Investment Management Inc. Has $13.85 Million Stock Holdings in Arcosa, Inc. (NYSE:ACA)

Thornburg Investment Management Inc. increased its stake in shares of Arcosa, Inc. (NYSE:ACA) by 7.6% in the second quarter, Holdings Channel.com reports. The firm owned 166,128 shares of the company’s stock after buying an additional 11,735 shares during the quarter. Thornburg Investment Management Inc.’s holdings in Arcosa were worth $13,850,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ACA. Arizona State Retirement System increased its position in Arcosa by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 13,595 shares of the company’s stock valued at $1,134,000 after acquiring an additional 195 shares during the period. Quadrant Capital Group LLC increased its position in Arcosa by 22.9% in the 4th quarter. Quadrant Capital Group LLC now owns 1,072 shares of the company’s stock valued at $89,000 after acquiring an additional 200 shares during the period. Covestor Ltd increased its position in Arcosa by 38.8% in the 1st quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after acquiring an additional 248 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Arcosa by 2.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,946 shares of the company’s stock valued at $1,080,000 after acquiring an additional 263 shares during the period. Finally, Louisiana State Employees Retirement System increased its position in Arcosa by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 24,400 shares of the company’s stock valued at $2,035,000 after acquiring an additional 300 shares during the period. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Arcosa Trading Up 3.4 %

NYSE:ACA opened at $85.35 on Thursday. The firm has a market cap of $4.16 billion, a P/E ratio of 29.20 and a beta of 0.72. Arcosa, Inc. has a 52 week low of $61.98 and a 52 week high of $95.50. The firm’s fifty day moving average is $86.17 and its 200-day moving average is $84.36. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.36 and a current ratio of 2.31.

Arcosa (NYSE:ACA) last issued its earnings results on Thursday, August 1st. The company reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.08. The business had revenue of $664.70 million for the quarter, compared to analyst estimates of $661.54 million. Arcosa had a net margin of 6.05% and a return on equity of 6.35%. Arcosa’s revenue was up 13.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Equities analysts expect that Arcosa, Inc. will post 3.4 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Antonio Carrillo bought 12,125 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $82.05 per share, with a total value of $994,856.25. Following the completion of the purchase, the chief executive officer now directly owns 406,275 shares in the company, valued at $33,334,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Antonio Carrillo bought 12,125 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average cost of $82.05 per share, with a total value of $994,856.25. Following the completion of the purchase, the chief executive officer now directly owns 406,275 shares in the company, valued at $33,334,863.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Bryan Stevenson sold 4,000 shares of the stock in a transaction on Friday, August 16th. The stock was sold at an average price of $83.78, for a total transaction of $335,120.00. Following the transaction, the insider now directly owns 35,333 shares in the company, valued at $2,960,198.74. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. DA Davidson upped their price objective on shares of Arcosa from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Oppenheimer upped their price objective 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. Finally, Stephens raised shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research note on Wednesday, August 7th.

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.