Bridges Investment Management Inc. Buys Shares of 2,530 Arcosa, Inc. $ACA

Bridges Investment Management Inc. bought a new stake in shares of Arcosa, Inc. (NYSE:ACA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 2,530 shares of the company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Neuberger Berman Group LLC increased its position in Arcosa by 3.5% during the 1st quarter. Neuberger Berman Group LLC now owns 3,122,070 shares of the company’s stock valued at $240,884,000 after buying an additional 105,473 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Arcosa by 17.1% in the first quarter. T. Rowe Price Investment Management Inc. now owns 1,993,241 shares of the company’s stock worth $153,719,000 after acquiring an additional 290,523 shares during the last quarter. Royce & Associates LP increased its holdings in shares of Arcosa by 1.2% during the first quarter. Royce & Associates LP now owns 1,254,088 shares of the company’s stock valued at $96,715,000 after acquiring an additional 14,839 shares in the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of Arcosa in the 2nd quarter worth about $93,040,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Arcosa by 7.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 609,385 shares of the company’s stock worth $46,996,000 after purchasing an additional 42,177 shares in the last quarter. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Stock Performance

Shares of ACA stock opened at $93.11 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.12 and a debt-to-equity ratio of 0.67. The company has a 50 day moving average price of $95.24 and a 200-day moving average price of $88.55. Arcosa, Inc. has a 52 week low of $68.11 and a 52 week high of $113.43. The firm has a market capitalization of $4.57 billion, a PE ratio of 49.53 and a beta of 0.98.

Arcosa (NYSE:ACA) last issued its earnings results on Wednesday, August 17th. The company reported $0.60 earnings per share (EPS) for the quarter. The company had revenue of $515.10 million for the quarter. Arcosa had a net margin of 3.45% and a return on equity of 6.25%. As a group, equities research analysts expect that Arcosa, Inc. will post 3.23 earnings per share for the current year.

Arcosa Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, October 15th. Arcosa’s dividend payout ratio is 10.64%.

Insider Transactions at Arcosa

In other Arcosa news, insider Kerry S. Cole sold 7,966 shares of the firm’s stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $95.77, for a total value of $762,903.82. Following the transaction, the insider directly owned 19,769 shares of the company’s stock, valued at approximately $1,893,277.13. This trade represents a 28.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bryan Stevenson sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $99.02, for a total value of $396,080.00. Following the sale, the insider owned 38,089 shares of the company’s stock, valued at approximately $3,771,572.78. This represents a 9.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on ACA shares. Weiss Ratings restated a “hold (c)” rating on shares of Arcosa in a research note on Wednesday, October 8th. Zacks Research downgraded shares of Arcosa from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Finally, DA Davidson boosted their price objective on shares of Arcosa from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $112.00.

About Arcosa

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.