Arcosa, Inc. $ACA Stake Lowered by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. lowered its holdings in Arcosa, Inc. (NYSE:ACA) by 80.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,388 shares of the company’s stock after selling 13,559 shares during the period. Oppenheimer & Co. Inc.’s holdings in Arcosa were worth $495,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Castleark Management LLC raised its position in shares of Arcosa by 53.9% in the 1st quarter. Castleark Management LLC now owns 74,650 shares of the company’s stock valued at $7,923,000 after purchasing an additional 26,150 shares in the last quarter. Pentwater Capital Management LP purchased a new position in shares of Arcosa during the 2nd quarter valued at approximately $95,891,000. Bank of America Corp DE purchased a new position in shares of Arcosa during the 2nd quarter valued at approximately $38,552,000. Deutsche Bank AG acquired a new stake in shares of Arcosa during the second quarter worth approximately $9,137,000. Finally, Corient Private Wealth LP grew its position in shares of Arcosa by 284.9% during the second quarter. Corient Private Wealth LP now owns 11,111 shares of the company’s stock worth $1,614,000 after buying an additional 8,224 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

Analyst Upgrades and Downgrades

ACA has been the subject of several analyst reports. Stephens set a $150.00 price objective on Arcosa in a research report on Thursday, August 6th. Weiss Ratings raised Arcosa from a “buy (b)” rating to a “buy (b+)” rating in a report on Monday, October 12th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $141.25.

Arcosa Price Performance

Shares of NYSE ACA opened at $149.21 on Friday. Arcosa, Inc. has a fifty-two week low of $91.40 and a fifty-two week high of $149.50. The firm’s 50-day simple moving average is $146.90 and its 200 day simple moving average is $131.61. The company has a quick ratio of 2.31, a current ratio of 3.12 and a debt-to-equity ratio of 0.48. The stock has a market cap of $7.33 billion, a P/E ratio of 14.95, a P/E/G ratio of 2.24 and a beta of 1.08.

Arcosa (NYSE:ACA) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). The company had revenue of $658.70 million during the quarter, compared to analyst estimates of $687.50 million. Arcosa had a return on equity of 7.90% and a net margin of 17.90%. The business’s revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.27 EPS. Equities analysts expect that Arcosa, Inc. will post 4.16 EPS for the current year.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 15th were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.1%. The ex-dividend date was Thursday, October 15th. Arcosa’s payout ratio is 2.00%.

About Arcosa

Arcosa, Inc (NYSE: ACA) is an infrastructure products company headquartered in Dallas, Texas. The company develops and manufactures products used in construction, transportation, utility and communications infrastructure, and renewable energy projects, serving customers primarily in the United States and other North American markets.

Arcosa’s Construction Products segment supplies aggregates, construction materials, drainage and stormwater management products, and related infrastructure solutions.