Sawgrass Asset Management LLC Acquires New Position in Arcosa, Inc. (NYSE:ACA)

Sawgrass Asset Management LLC bought a new position in shares of Arcosa, Inc. (NYSE:ACA) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,272 shares of the company’s stock, valued at approximately $215,000.

Several other large investors have also recently modified their holdings of ACA. Natixis Advisors LLC lifted its position in shares of Arcosa by 8.2% during the third quarter. Natixis Advisors LLC now owns 39,692 shares of the company’s stock worth $3,761,000 after acquiring an additional 3,013 shares in the last quarter. KBC Group NV grew its holdings in Arcosa by 20.5% during the 3rd quarter. KBC Group NV now owns 1,424 shares of the company’s stock valued at $135,000 after buying an additional 242 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Arcosa by 15.5% during the third quarter. Aptus Capital Advisors LLC now owns 74,976 shares of the company’s stock valued at $7,105,000 after buying an additional 10,082 shares during the period. Peregrine Asset Advisers Inc. purchased a new stake in shares of Arcosa in the third quarter worth about $590,000. Finally, River Global Investors LLP boosted its position in shares of Arcosa by 11.4% in the third quarter. River Global Investors LLP now owns 80,228 shares of the company’s stock valued at $7,596,000 after acquiring an additional 8,222 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Price Performance

Shares of NYSE:ACA opened at $101.39 on Monday. The company’s fifty day moving average price is $94.70 and its 200-day moving average price is $88.95. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. The firm has a market capitalization of $4.95 billion, a price-to-earnings ratio of 38.55 and a beta of 0.71. Arcosa, Inc. has a one year low of $71.89 and a one year high of $107.79.

Arcosa (NYSE:ACA) last released its earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. The business had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $682.52 million. During the same quarter in the prior year, the firm earned $0.73 earnings per share. The firm’s revenue was up 8.2% on a year-over-year basis. On average, equities research analysts anticipate that Arcosa, Inc. will post 3.38 earnings per share for the current fiscal year.

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Tuesday, October 15th were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend was Tuesday, October 15th. Arcosa’s dividend payout ratio is currently 7.60%.

Insider Buying and Selling at Arcosa

In other Arcosa news, Director Steven J. Demetriou acquired 6,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was bought at an average price of $87.70 per share, with a total value of $526,200.00. Following the purchase, the director now owns 9,943 shares of the company’s stock, valued at approximately $872,001.10. This trade represents a 152.17 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 1.30% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ACA shares. Oppenheimer upped their target price on shares of Arcosa from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Stephens upgraded Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research report on Wednesday, August 7th. Finally, Barclays assumed coverage on Arcosa in a research report on Tuesday, October 29th. They set an “overweight” rating and a $106.00 target price for the company.

Arcosa Profile

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.