Prudential Financial Inc. Lowers Holdings in Arcosa Inc (NYSE:ACA)
Prudential Financial Inc. cut its holdings in Arcosa Inc (NYSE:ACA) by 11.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,817 shares of the company’s stock after selling 10,225 shares during the period. Prudential Financial Inc. owned 0.16% of Arcosa worth $3,004,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ACA. Bank of Montreal Can purchased a new position in Arcosa in the 1st quarter worth approximately $633,000. Texas Permanent School Fund raised its holdings in shares of Arcosa by 3.5% during the 1st quarter. Texas Permanent School Fund now owns 33,022 shares of the company’s stock worth $1,009,000 after acquiring an additional 1,110 shares in the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Arcosa by 1.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 73,015 shares of the company’s stock worth $2,231,000 after acquiring an additional 1,230 shares in the last quarter. Moors & Cabot Inc. purchased a new stake in shares of Arcosa during the 1st quarter worth approximately $259,000. Finally, Mason Street Advisors LLC raised its holdings in shares of Arcosa by 3.1% during the 1st quarter. Mason Street Advisors LLC now owns 15,619 shares of the company’s stock worth $477,000 after acquiring an additional 475 shares in the last quarter. 84.63% of the stock is currently owned by institutional investors.
Separately, Zacks Investment Research cut Arcosa from a “buy” rating to a “sell” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. Arcosa presently has a consensus rating of “Hold” and a consensus target price of $39.95.
Arcosa (NYSE:ACA) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.65 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.18. The business had revenue of $434.10 million for the quarter, compared to analysts’ expectations of $429.22 million. Arcosa had a return on equity of 5.14% and a net margin of 5.66%. The firm’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, sell-side analysts predict that Arcosa Inc will post 2.25 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Tuesday, October 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Friday, October 11th. This represents a $0.20 annualized dividend and a yield of 0.58%. Arcosa’s payout ratio is presently 10.99%.
Arcosa Company Profile
Arcosa, Inc manufactures and sells infrastructure-related products and services for the construction, energy, and transportation markets. It operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment offers lightweight and natural construction aggregates, and trench shields and shoring products that are used in construction landscape, including commercial, industrial, road and bridge, and underground construction.
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