Oppenheimer Asset Management Inc. Sells 132 Shares of Arcosa, Inc. (NYSE:ACA)

Oppenheimer Asset Management Inc. decreased its stake in shares of Arcosa, Inc. (NYSE:ACA) by 1.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,034 shares of the company’s stock after selling 132 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Arcosa were worth $667,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Aptus Capital Advisors LLC grew its position in Arcosa by 15.5% during the 3rd quarter. Aptus Capital Advisors LLC now owns 74,976 shares of the company’s stock valued at $7,105,000 after purchasing an additional 10,082 shares during the last quarter. Peregrine Asset Advisers Inc. purchased a new position in Arcosa in the 3rd quarter worth about $590,000. River Global Investors LLP boosted its holdings in shares of Arcosa by 11.4% during the 3rd quarter. River Global Investors LLP now owns 80,228 shares of the company’s stock valued at $7,596,000 after acquiring an additional 8,222 shares during the last quarter. QRG Capital Management Inc. grew its stake in shares of Arcosa by 15.5% in the third quarter. QRG Capital Management Inc. now owns 3,018 shares of the company’s stock worth $286,000 after acquiring an additional 406 shares during the period. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Arcosa by 152.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock valued at $18,512,000 after buying an additional 117,892 shares during the period. 90.66% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Arcosa

In other news, Director Steven J. Demetriou purchased 6,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was bought at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the purchase, the director now owns 9,943 shares in the company, valued at approximately $872,001.10. This represents a 152.17 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.20% of the company’s stock.

Arcosa Trading Up 1.3 %

Shares of ACA stock opened at $104.95 on Wednesday. The stock has a fifty day simple moving average of $95.58 and a two-hundred day simple moving average of $89.27. Arcosa, Inc. has a 52-week low of $72.70 and a 52-week high of $107.79. The firm has a market capitalization of $5.12 billion, a PE ratio of 39.91 and a beta of 0.71. The company has a debt-to-equity ratio of 0.51, a quick ratio of 2.77 and a current ratio of 3.61.

Arcosa (NYSE:ACA) last issued 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. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. The company had revenue of $640.40 million for the quarter, compared to the consensus estimate of $682.52 million. During the same quarter last year, the company earned $0.73 EPS. The firm’s quarterly revenue was up 8.2% on a year-over-year basis. On average, analysts predict that Arcosa, Inc. will post 3.38 EPS for the current fiscal year.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.19%. The ex-dividend date was Tuesday, October 15th. Arcosa’s payout ratio is currently 7.60%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ACA shares. Oppenheimer increased their target price on Arcosa from $100.00 to $105.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Barclays began coverage on shares of Arcosa in a research note on Tuesday, October 29th. They set an “overweight” rating and a $106.00 price target on the stock. Finally, Stephens raised Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price target for the company in a report 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.