KLP Kapitalforvaltning AS Raises Stock Holdings in Arcosa, Inc. $ACA

KLP Kapitalforvaltning AS boosted its holdings in Arcosa, Inc. (NYSE:ACA) by 6.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,066 shares of the company’s stock after buying an additional 600 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Arcosa were worth $873,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ACA. Neuberger Berman Group LLC lifted its stake in shares of Arcosa by 3.5% in the 1st quarter. Neuberger Berman Group LLC now owns 3,122,070 shares of the company’s stock worth $240,884,000 after purchasing an additional 105,473 shares during the period. T. Rowe Price Investment Management Inc. lifted its stake in shares of Arcosa by 17.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,993,241 shares of the company’s stock worth $153,719,000 after purchasing an additional 290,523 shares during the period. Royce & Associates LP lifted its stake in shares of Arcosa by 1.2% in the 1st quarter. Royce & Associates LP now owns 1,254,088 shares of the company’s stock worth $96,715,000 after purchasing an additional 14,839 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Arcosa by 7.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 609,385 shares of the company’s stock worth $46,996,000 after purchasing an additional 42,177 shares during the period. Finally, Nuveen LLC bought a new position in shares of Arcosa in the 1st quarter worth approximately $33,982,000. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Trading Down 0.2%

Shares of ACA opened at $92.83 on Thursday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.12 and a quick ratio of 1.35. Arcosa, Inc. has a 1 year low of $68.11 and a 1 year high of $113.43. The company has a 50 day simple moving average of $95.16 and a two-hundred day simple moving average of $88.34. The firm has a market cap of $4.55 billion, a P/E ratio of 49.38 and a beta of 0.98.

Arcosa (NYSE:ACA) last announced its quarterly earnings data on Wednesday, August 17th. The company reported $0.60 earnings per share (EPS) for the quarter. Arcosa had a net margin of 3.45% and a return on equity of 6.25%. The business had revenue of $515.10 million during the quarter. On average, equities analysts expect that Arcosa, Inc. will post 3.23 earnings per share for the current fiscal year.

Arcosa Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 15th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date of this dividend is Wednesday, October 15th. Arcosa’s dividend payout ratio (DPR) is 10.64%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Zacks Research cut shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. DA Davidson increased their price objective on shares of Arcosa from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, August 11th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Arcosa in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, Arcosa currently has an average rating of “Moderate Buy” and an average price target of $112.00.

Insider Buying and Selling

In other Arcosa news, insider Bryan Stevenson sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $99.02, for a total transaction of $396,080.00. Following the completion of the sale, the insider directly owned 38,089 shares of the company’s stock, valued at $3,771,572.78. This trade represents a 9.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Kerry S. Cole sold 7,966 shares of the stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $95.77, for a total transaction of $762,903.82. Following the sale, the insider directly owned 19,769 shares of the company’s stock, valued at approximately $1,893,277.13. This trade represents a 28.72% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.

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.