Sawgrass Asset Management LLC Takes Position in Arcosa, Inc. (NYSE:ACA)

Sawgrass Asset Management LLC bought a new position in Arcosa, Inc. (NYSE:ACA) during the 3rd quarter, HoldingsChannel reports. The fund bought 2,272 shares of the company’s stock, valued at approximately $215,000.

Several other hedge funds also recently made changes to their positions in ACA. Boston Partners lifted its holdings in Arcosa by 272.6% in the 1st quarter. Boston Partners now owns 220,961 shares of the company’s stock worth $18,947,000 after buying an additional 161,662 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Arcosa by 152.2% in the third quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock valued at $18,512,000 after acquiring an additional 117,892 shares in the last quarter. Algert Global LLC purchased a new position in Arcosa during the 2nd quarter valued at $8,915,000. Synergy Asset Management LLC raised its holdings in Arcosa by 88.5% in the 2nd quarter. Synergy Asset Management LLC now owns 115,097 shares of the company’s stock worth $9,600,000 after purchasing an additional 54,045 shares in the last quarter. Finally, Millennium Management LLC lifted its position in shares of Arcosa by 378.5% in the 2nd quarter. Millennium Management LLC now owns 54,358 shares of the company’s stock worth $4,534,000 after purchasing an additional 42,997 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ACA has been the topic of several research analyst reports. Oppenheimer boosted their price target on shares of Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Stephens raised Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 target price for the company in a research report on Wednesday, August 7th. Finally, Barclays started coverage on Arcosa in a research report on Tuesday, October 29th. They set an “overweight” rating and a $106.00 price target on the stock.

Insider Activity

In other news, Director Steven J. Demetriou acquired 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were bought at an average cost 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 trade represents a 152.17 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.30% of the company’s stock.

Arcosa Trading Down 2.2 %

NYSE:ACA opened at $101.39 on Monday. The firm has a market capitalization of $4.95 billion, a P/E ratio of 38.55 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. Arcosa, Inc. has a one year low of $71.89 and a one year high of $107.79. The company’s 50-day simple moving average is $94.70 and its 200 day simple moving average is $88.95.

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

Arcosa Dividend Announcement

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

Arcosa Profile

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.