McElhenny Sheffield Capital Management LLC purchased a new position in shares of Arcosa, Inc. (NYSE:ACA – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,333 shares of the company’s stock, valued at approximately $72,000.
Several other hedge funds have also recently modified their holdings of ACA. The Manufacturers Life Insurance Company acquired a new stake in shares of Arcosa during the first quarter worth $28,879,000. Capital World Investors lifted its holdings in shares of Arcosa by 19.0% during the first quarter. Capital World Investors now owns 1,881,470 shares of the company’s stock worth $107,714,000 after purchasing an additional 300,000 shares during the period. Macquarie Group Ltd. raised its position in Arcosa by 57.4% in the third quarter. Macquarie Group Ltd. now owns 399,419 shares of the company’s stock worth $22,893,000 after acquiring an additional 145,583 shares in the last quarter. Ancora Advisors LLC raised its position in Arcosa by 131.2% in the first quarter. Ancora Advisors LLC now owns 246,059 shares of the company’s stock worth $16,016,000 after acquiring an additional 139,639 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Arcosa by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,459,593 shares of the company’s stock worth $140,639,000 after acquiring an additional 130,903 shares in the last quarter. 88.88% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, DA Davidson increased their price objective on Arcosa from $74.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday, February 27th.
Arcosa Trading Down 2.4 %
Arcosa (NYSE:ACA – Get Rating) last released its quarterly earnings data on Friday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.05. Arcosa had a return on equity of 5.22% and a net margin of 10.96%. The firm had revenue of $500.30 million during the quarter, compared to analysts’ expectations of $476.65 million. During the same quarter in the prior year, the business posted $0.40 earnings per share. Arcosa’s revenue was down 4.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Arcosa, Inc. will post 1.92 earnings per share for the current fiscal year.
Arcosa Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Stockholders of record on Friday, April 14th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Thursday, April 13th. Arcosa’s dividend payout ratio is currently 3.97%.
Arcosa, Inc engages in the provision of infrastructure-related products and services. It operates through the following segments: Construction Products, Energy Equipment, and Transportation Products. The Construction Products segment produces and sells construction aggregates, and manufactures and sells trench shields and shoring products and services for infrastructure-related projects.
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