The Manufacturers Life Insurance Company Trims Stock Holdings in Arcosa, Inc. $ACA

The Manufacturers Life Insurance Company decreased its holdings in shares of Arcosa, Inc. (NYSE:ACA) by 16.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 369,232 shares of the company’s stock after selling 71,727 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.75% of Arcosa worth $39,190,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ACA. AQR Capital Management LLC lifted its holdings in Arcosa by 20.6% during the 1st quarter. AQR Capital Management LLC now owns 8,326 shares of the company’s stock worth $642,000 after purchasing an additional 1,423 shares in the last quarter. United Services Automobile Association purchased a new position in Arcosa during the 1st quarter valued at about $256,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Arcosa by 11.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 143,244 shares of the company’s stock valued at $11,047,000 after buying an additional 14,723 shares in the last quarter. Jane Street Group LLC increased its position in shares of Arcosa by 193.8% during the first quarter. Jane Street Group LLC now owns 105,243 shares of the company’s stock valued at $8,116,000 after buying an additional 69,427 shares during the period. Finally, American Century Companies Inc. increased its position in shares of Arcosa by 1.4% during the second quarter. American Century Companies Inc. now owns 12,690 shares of the company’s stock valued at $1,100,000 after buying an additional 181 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Price Performance

ACA stock opened at $145.17 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.32 and a quick ratio of 1.60. Arcosa, Inc. has a one year low of $81.91 and a one year high of $146.92. The stock has a market cap of $7.13 billion, a PE ratio of 32.05, a P/E/G ratio of 2.13 and a beta of 1.04. The firm has a 50 day simple moving average of $137.35 and a two-hundred day simple moving average of $123.48.

Arcosa (NYSE:ACA) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.13 by $0.38. Arcosa had a net margin of 7.88% and a return on equity of 8.52%. The firm had revenue of $571.70 million for the quarter, compared to analyst estimates of $642.40 million. During the same quarter in the prior year, the firm earned $0.49 EPS. The business’s revenue for the quarter was up 5.0% compared to the same quarter last year. On average, analysts predict that Arcosa, Inc. will post 4.25 EPS for the current fiscal year.

Arcosa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.05 per share. The ex-dividend date is Wednesday, July 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.1%. Arcosa’s dividend payout ratio (DPR) is presently 4.42%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays raised their price objective on shares of Arcosa from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Oppenheimer cut shares of Arcosa from an “outperform” rating to a “market perform” rating in a research note on Friday, June 26th. Wall Street Zen raised shares of Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. Texas Capital lowered shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 23rd. Finally, Citigroup cut shares of Arcosa to a “hold” rating in a report on Tuesday, June 23rd. Two investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $138.33.

Arcosa Company Profile

Arcosa, Inc (NYSE: ACA) is a Dallas‐based industrial company that was formed through the spin‐off of Trinity Industries’ construction products business in 2018. Since its inception, Arcosa has focused on the manufacture and sale of critical infrastructure components, serving a diverse set of end markets including transportation, construction and energy.

The company’s Construction Products segment produces a broad range of highway safety products, such as guardrail systems, sign supports and crash cushions, as well as aggregates and ready‐mix concrete.