Bank of Montreal Can Buys Shares of 23,966 Arcosa, Inc. (NYSE:ACA)

Bank of Montreal Can purchased a new position in shares of Arcosa, Inc. (NYSE:ACA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 23,966 shares of the company’s stock, valued at approximately $1,827,000.

A number of other hedge funds have also modified their holdings of the business. HighTower Advisors LLC increased its holdings in Arcosa by 8.1% in the 1st quarter. HighTower Advisors LLC now owns 6,582 shares of the company’s stock valued at $380,000 after purchasing an additional 496 shares during the last quarter. Citigroup Inc. raised its holdings in shares of Arcosa by 7.7% in the 1st quarter. Citigroup Inc. now owns 54,291 shares of the company’s stock valued at $3,108,000 after buying an additional 3,866 shares during the period. MetLife Investment Management LLC lifted its stake in Arcosa by 56.1% during the 1st quarter. MetLife Investment Management LLC now owns 25,981 shares of the company’s stock worth $1,487,000 after acquiring an additional 9,338 shares in the last quarter. Rhumbline Advisers boosted its holdings in Arcosa by 1.1% during the 1st quarter. Rhumbline Advisers now owns 143,380 shares of the company’s stock valued at $8,209,000 after acquiring an additional 1,576 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Arcosa by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,665 shares of the company’s stock valued at $2,385,000 after acquiring an additional 5,137 shares in the last quarter. 88.09% of the stock is currently owned by hedge funds and other institutional investors.

Arcosa Price Performance

Arcosa stock opened at $67.94 on Friday. The company has a current ratio of 2.35, a quick ratio of 1.46 and a debt-to-equity ratio of 0.22. The company has a fifty day simple moving average of $71.45 and a 200-day simple moving average of $72.24. The stock has a market cap of $3.31 billion, a P/E ratio of 11.55 and a beta of 0.61. Arcosa, Inc. has a 12-month low of $52.04 and a 12-month high of $79.38.

Arcosa (NYSE:ACA) last announced its quarterly earnings results on Thursday, November 2nd. The company reported $0.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.66 by $0.07. The company had revenue of $591.70 million during the quarter, compared to the consensus estimate of $586.04 million. Arcosa had a return on equity of 6.04% and a net margin of 12.88%. Arcosa’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.70 EPS. Equities analysts expect that Arcosa, Inc. will post 2.96 EPS for the current fiscal year.

Arcosa Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 31st. Investors of record on Friday, October 13th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date was Thursday, October 12th. Arcosa’s dividend payout ratio (DPR) is 3.40%.

Insider Buying and Selling at Arcosa

In other Arcosa news, CEO Antonio Carrillo sold 14,411 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $78.25, for a total transaction of $1,127,660.75. Following the sale, the chief executive officer now owns 383,603 shares of the company’s stock, valued at $30,016,934.75. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.30% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ACA has been the subject of several recent research reports. Loop Capital raised their price objective on shares of Arcosa from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, August 7th. Sidoti raised Arcosa from a “neutral” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Tuesday, October 17th. Stephens lifted their target price on Arcosa from $77.00 to $87.00 and gave the company an “equal weight” rating in a report on Tuesday, August 8th. Finally, DA Davidson upped their price target on Arcosa from $85.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, 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 North America. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products. The Construction Products segment offers natural and recycled aggregates; specialty materials; and construction site support equipment, including trench shields and shoring products for residential and non-residential construction, and specialty/other products, as well as for infrastructure construction.