641,695 Shares in Arcosa, Inc. $ACA Purchased by Norges Bank

Norges Bank purchased a new position in Arcosa, Inc. (NYSE:ACA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 641,695 shares of the company’s stock, valued at approximately $68,225,000.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in Arcosa by 1.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,178 shares of the company’s stock valued at $551,000 after buying an additional 92 shares during the last quarter. CWM LLC increased its holdings in Arcosa by 11.5% in the fourth quarter. CWM LLC now owns 923 shares of the company’s stock valued at $98,000 after buying an additional 95 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Arcosa by 0.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 11,189 shares of the company’s stock valued at $1,190,000 after buying an additional 100 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Arcosa by 0.3% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 40,083 shares of the company’s stock valued at $4,281,000 after buying an additional 107 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Arcosa by 5.0% in the fourth quarter. M&T Bank Corp now owns 2,499 shares of the company’s stock valued at $266,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ACA. Barclays boosted their price objective on Arcosa from $115.00 to $140.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Zacks Research lowered Arcosa from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 28th. Wall Street Zen raised Arcosa from a “sell” rating to a “hold” rating in a report on Saturday, May 30th. DA Davidson boosted their price objective on Arcosa from $120.00 to $125.00 and gave the company a “buy” rating in a report on Monday, March 2nd. Finally, Texas Capital raised Arcosa to a “strong-buy” rating in a report on Friday, March 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.33.

Arcosa Stock Down 1.4%

NYSE:ACA opened at $122.35 on Friday. The firm has a market capitalization of $6.01 billion, a PE ratio of 27.01, a price-to-earnings-growth ratio of 1.80 and a beta of 1.06. The stock has a 50 day moving average of $118.48 and a 200-day moving average of $114.21. Arcosa, Inc. has a 52 week low of $81.91 and a 52 week high of $135.58. The company has a current ratio of 2.32, a quick ratio of 1.60 and a debt-to-equity ratio of 0.57.

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

Arcosa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Wednesday, July 15th will be issued a $0.05 dividend. 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, July 15th. Arcosa’s dividend payout ratio is 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.