Arcosa (NYSE:ACA) Sees Strong Trading Volume – Here’s Why

Shares of Arcosa, Inc. (NYSE:ACA) saw strong trading volume on Wednesday. Approximately 555,843 shares changed hands during trading, an increase of 12% from the previous session’s volume of 496,056 shares. The stock last traded at $148.9760 and had previously closed at $147.45.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ACA shares. Citigroup downgraded shares of Arcosa to a “hold” rating in a research note on Tuesday, June 23rd. Oppenheimer cut Arcosa from an “outperform” rating to a “market perform” rating in a research report on Friday, June 26th. Stephens set a $150.00 target price on Arcosa in a report on Thursday, August 6th. Weiss Ratings raised Arcosa from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, October 12th. Finally, Texas Capital cut Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $141.25.

Arcosa Stock Up 1.1%

The stock’s 50-day moving average price is $145.97 and its two-hundred day moving average price is $136.34. The stock has a market capitalization of $7.32 billion, a PE ratio of 14.93, a P/E/G ratio of 2.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.48, a quick ratio of 2.31 and a current ratio of 3.12.

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

Arcosa Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. The ex-dividend date is Thursday, October 15th. Arcosa’s dividend payout ratio (DPR) is presently 2.00%.

Institutional Trading of Arcosa

Several hedge funds and other institutional investors have recently made changes to their positions in ACA. BlackRock Inc. bought a new position in Arcosa during the 2nd quarter valued at approximately $1,222,486,000. Pentwater Capital Management LP purchased a new stake in shares of Arcosa in the second quarter worth $95,891,000. First Trust Advisors LP grew its stake in shares of Arcosa by 29.1% in the first quarter. First Trust Advisors LP now owns 530,455 shares of the company’s stock worth $56,302,000 after acquiring an additional 119,687 shares during the last quarter. Bank of New York Mellon Corp bought a new position in shares of Arcosa during the second quarter valued at $50,804,000. Finally, Punch & Associates Investment Management Inc. bought a new position in shares of Arcosa during the second quarter valued at $50,494,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.

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.