213,057 Shares in Arcosa, Inc. $ACA Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company bought a new position in shares of Arcosa, Inc. (NYSE:ACA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 213,057 shares of the company’s stock, valued at approximately $30,955,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. State of Wyoming acquired a new stake in shares of Arcosa during the first quarter worth $30,000. GHP Investment Advisors Inc. acquired a new stake in Arcosa during the 1st quarter worth about $32,000. Farther Finance Advisors LLC grew its stake in Arcosa by 73.4% during the 4th quarter. Farther Finance Advisors LLC now owns 307 shares of the company’s stock valued at $33,000 after purchasing an additional 130 shares during the last quarter. Quarry LP grew its stake in Arcosa by 160.0% during the 3rd quarter. Quarry LP now owns 403 shares of the company’s stock valued at $38,000 after purchasing an additional 248 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in shares of Arcosa by 392.5% in the fourth quarter. Allworth Financial LP now owns 394 shares of the company’s stock valued at $42,000 after purchasing an additional 314 shares during the period. Hedge funds and other institutional investors own 90.66% of the company’s stock.

Arcosa Trading Up 0.2%

Arcosa stock opened at $145.51 on Friday. The firm has a market cap of $7.15 billion, a PE ratio of 14.58, a P/E/G ratio of 2.18 and a beta of 1.05. Arcosa, Inc. has a 12 month low of $89.03 and a 12 month high of $146.92. The stock’s 50 day simple moving average is $144.88 and its two-hundred day simple moving average is $127.68. The company has a current ratio of 3.12, a quick ratio of 2.31 and a debt-to-equity ratio of 0.48.

Arcosa (NYSE:ACA) last posted its earnings results on Wednesday, August 5th. The company reported $1.13 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.05). Arcosa had a net margin of 17.90% and a return on equity of 7.90%. The firm had revenue of $658.70 million for the quarter, compared to analysts’ expectations of $687.50 million. During the same period last year, the firm earned $1.27 earnings per share. Arcosa’s revenue for the quarter was down 10.6% compared to the same quarter last year. Analysts anticipate that Arcosa, Inc. will post 4.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Citigroup lowered Arcosa to a “hold” rating in a research report on Tuesday, June 23rd. Texas Capital downgraded shares of Arcosa from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 23rd. Oppenheimer lowered shares of Arcosa from an “outperform” rating to a “market perform” rating in a research note on Friday, June 26th. Barclays boosted their target price on shares of Arcosa from $115.00 to $140.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised Arcosa from a “hold (c+)” rating to a “buy (b)” rating in a research report on Friday, August 21st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $141.25.

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.