Gabelli Funds LLC Reduces Stake in Arcosa, Inc. (NYSE:ACA)

Gabelli Funds LLC lessened its holdings in shares of Arcosa, Inc. (NYSE:ACA) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 165,983 shares of the company’s stock after selling 4,708 shares during the period. Gabelli Funds LLC owned 0.34% of Arcosa worth $13,845,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Arcosa during the second quarter worth approximately $25,000. ICA Group Wealth Management LLC acquired a new stake in Arcosa during the 4th quarter worth $33,000. Scarborough Advisors LLC purchased a new stake in Arcosa in the fourth quarter valued at $42,000. Innealta Capital LLC acquired a new position in Arcosa in the second quarter valued at $69,000. Finally, Covestor Ltd boosted its stake in Arcosa by 38.8% in the first quarter. Covestor Ltd now owns 888 shares of the company’s stock valued at $77,000 after acquiring an additional 248 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Trading Down 0.0 %

NYSE ACA opened at $93.02 on Tuesday. The firm’s fifty day moving average is $87.56 and its two-hundred day moving average is $84.87. Arcosa, Inc. has a one year low of $61.98 and a one year high of $95.50. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.36 and a current ratio of 2.31. The firm has a market cap of $4.52 billion, a PE ratio of 31.86 and a beta of 0.72.

Arcosa (NYSE:ACA) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.08. Arcosa had a return on equity of 6.35% and a net margin of 6.05%. The firm had revenue of $664.70 million for the quarter, compared to analysts’ expectations of $661.54 million. During the same quarter in the previous year, the firm posted $0.76 EPS. The firm’s revenue for the quarter was up 13.7% on a year-over-year basis. Analysts expect that Arcosa, Inc. will post 3.39 earnings per share for the current year.

Arcosa Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.22%. The ex-dividend date is Tuesday, October 15th. Arcosa’s dividend payout ratio is presently 6.85%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Oppenheimer boosted 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. Stephens upgraded Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective for the company in a research note on Wednesday, August 7th.

Insider Activity at Arcosa

In other Arcosa news, insider Bryan Stevenson sold 4,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $83.78, for a total transaction of $335,120.00. Following the completion of the transaction, the insider now owns 35,333 shares in the company, valued at approximately $2,960,198.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Bryan Stevenson sold 4,000 shares of Arcosa stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $83.78, for a total value of $335,120.00. Following the sale, the insider now owns 35,333 shares of the company’s stock, valued at $2,960,198.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Steven J. Demetriou purchased 6,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were purchased at an average cost of $87.70 per share, with a total value of $526,200.00. Following the completion of the acquisition, the director now directly owns 9,943 shares of the company’s stock, valued at $872,001.10. The disclosure for this purchase can be found here. 1.30% of the stock is currently owned by insiders.

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.