Arcosa, Inc. $ACA Stock: Oppenheimer & Co. Inc. Cuts Holdings

Oppenheimer & Co. Inc. reduced its position in shares of Arcosa, Inc. (NYSE:ACA) by 80.0% in the third quarter, HoldingsChannel.com reports. The firm 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.

Several other hedge funds also recently modified their holdings of ACA. BlackRock Inc. bought a new stake in shares of Arcosa in the 2nd quarter worth $1,222,486,000. Pentwater Capital Management LP acquired a new stake in shares of Arcosa in the second quarter valued at $95,891,000. Bank of New York Mellon Corp acquired a new stake in shares of Arcosa in the second quarter valued at $50,804,000. Punch & Associates Investment Management Inc. acquired a new stake in shares of Arcosa in the second quarter valued at $50,494,000. Finally, Bank of America Corp DE bought a new position in Arcosa during the second quarter valued at about $38,552,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ACA. Stephens set a $150.00 target price on Arcosa in a report on Thursday, August 6th. Weiss Ratings upgraded shares of Arcosa from a “buy (b)” rating to a “buy (b+)” rating in a research report on Monday, October 12th. 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 MarketBeat, Arcosa has an average rating of “Hold” and an average target price of $141.25.

Arcosa Stock Up 0.0%

ACA stock opened at $149.21 on Friday. Arcosa, Inc. has a 12 month low of $91.40 and a 12 month high of $149.50. The firm has a market cap of $7.33 billion, a PE ratio of 14.95, a P/E/G ratio of 2.24 and a beta of 1.08. The firm has a 50 day simple moving average of $146.90 and a 200 day simple moving average of $131.61. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.12 and a quick ratio of 2.31.

Arcosa (NYSE:ACA) last issued its earnings results on Wednesday, August 5th. The company reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.05). The business had revenue of $658.70 million for the quarter, compared to the consensus estimate of $687.50 million. Arcosa had a return on equity of 7.90% and a net margin of 17.90%. The company’s quarterly revenue was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.27 earnings per share. Equities research analysts forecast that Arcosa, Inc. will post 4.16 earnings per share for the current fiscal 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 issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 15th. This represents a $0.20 annualized dividend and a dividend yield of 0.1%. Arcosa’s dividend payout ratio is currently 2.00%.

Arcosa Profile

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.