Magnetar Financial LLC Takes $3.09 Million Position in Arcosa, Inc. $ACA

Magnetar Financial LLC acquired a new stake in shares of Arcosa, Inc. (NYSE:ACA) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 32,961 shares of the company’s stock, valued at approximately $3,089,000.

Other hedge funds have also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Arcosa by 7.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,533 shares of the company’s stock valued at $1,087,000 after acquiring an additional 860 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Arcosa during the second quarter worth $7,884,000. Impax Asset Management Group plc boosted its holdings in shares of Arcosa by 74.7% during the third quarter. Impax Asset Management Group plc now owns 141,500 shares of the company’s stock worth $13,260,000 after purchasing an additional 60,500 shares during the last quarter. First Trust Advisors LP grew its position in shares of Arcosa by 29.0% in the second quarter. First Trust Advisors LP now owns 617,265 shares of the company’s stock valued at $53,523,000 after purchasing an additional 138,676 shares during the period. Finally, AXQ Capital LP purchased a new stake in shares of Arcosa in the second quarter valued at $421,000. Institutional investors and hedge funds own 90.66% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ACA. DA Davidson upped their target price on Arcosa from $120.00 to $125.00 and gave the company a “buy” rating in a research note on Monday, March 2nd. Weiss Ratings lowered Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, March 2nd. Finally, Wall Street Zen cut Arcosa from a “buy” rating to a “hold” rating in a report on Sunday, March 1st. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.00.

Arcosa Stock Up 2.0%

Shares of ACA opened at $110.42 on Thursday. Arcosa, Inc. has a fifty-two week low of $68.11 and a fifty-two week high of $131.00. The company’s fifty day moving average is $116.39 and its two-hundred day moving average is $105.55. The firm has a market cap of $5.41 billion, a PE ratio of 26.04, a price-to-earnings-growth ratio of 1.42 and a beta of 1.01. The company has a quick ratio of 1.35, a current ratio of 2.20 and a debt-to-equity ratio of 0.57.

Arcosa (NYSE:ACA) last released its quarterly earnings data on Thursday, February 26th. The company reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.20. The business had revenue of $716.70 million during the quarter, compared to the consensus estimate of $719.46 million. Arcosa had a return on equity of 8.64% and a net margin of 7.23%.The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.46 EPS. Analysts forecast that Arcosa, Inc. will post 3.23 earnings per share for the current year.

Arcosa Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Wednesday, April 15th. This represents a $0.20 annualized dividend and a yield of 0.2%. Arcosa’s dividend payout ratio is currently 4.72%.

About Arcosa

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.