Louisiana State Employees Retirement System Makes New Investment in Arcosa, Inc. $ACA

Louisiana State Employees Retirement System acquired a new stake in Arcosa, Inc. (NYSE:ACA) during the first quarter, according to its most recent filing with the SEC. The firm acquired 21,800 shares of the company’s stock, valued at approximately $2,314,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ACA. Franklin Resources Inc. raised its position in shares of Arcosa by 2,770.5% during the fourth quarter. Franklin Resources Inc. now owns 736,018 shares of the company’s stock worth $78,253,000 after acquiring an additional 710,377 shares during the last quarter. Norges Bank bought a new position in Arcosa in the fourth quarter valued at about $68,225,000. Capital International Investors increased its position in Arcosa by 28.3% in the third quarter. Capital International Investors now owns 2,228,275 shares of the company’s stock worth $208,812,000 after purchasing an additional 491,165 shares during the period. T. Rowe Price Investment Management Inc. increased its position in Arcosa by 25.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,707,884 shares of the company’s stock worth $181,583,000 after purchasing an additional 342,242 shares during the period. Finally, Bank of America Corp DE raised its holdings in Arcosa by 80.5% during the 2nd quarter. Bank of America Corp DE now owns 465,140 shares of the company’s stock worth $40,332,000 after purchasing an additional 207,457 shares during the last quarter. 90.66% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ACA. Weiss Ratings downgraded shares of Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 11th. Oppenheimer downgraded shares of Arcosa from an “outperform” rating to a “market perform” rating in a research note on Friday. Barclays increased their price objective on shares of Arcosa from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Texas Capital cut shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, June 23rd. Finally, DA Davidson lifted their target price on shares of Arcosa from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $138.33.

Arcosa Stock Performance

Shares of ACA stock opened at $144.55 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.60 and a current ratio of 2.32. Arcosa, Inc. has a 52 week low of $81.91 and a 52 week high of $146.92. The company’s 50 day moving average price is $127.05 and its two-hundred day moving average price is $117.74. The company has a market capitalization of $7.10 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.12 and a beta of 1.06.

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

Arcosa Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend 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 is presently 4.42%.

Arcosa 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.