Aigen Investment Management LP Reduces Stock Holdings in Arcosa, Inc. (NYSE:ACA)

Aigen Investment Management LP lessened its stake in Arcosa, Inc. (NYSE:ACA) by 15.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,480 shares of the company’s stock after selling 442 shares during the quarter. Aigen Investment Management LP’s holdings in Arcosa were worth $235,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. The Manufacturers Life Insurance Company boosted its stake in shares of Arcosa by 1.2% in the second quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock valued at $46,139,000 after purchasing an additional 6,673 shares during the period. Bank of New York Mellon Corp increased its position in shares of Arcosa by 2.2% during the second quarter. Bank of New York Mellon Corp now owns 456,066 shares of the company’s stock worth $38,040,000 after acquiring an additional 9,602 shares during the last quarter. Boston Partners increased its position in shares of Arcosa by 272.6% during the first quarter. Boston Partners now owns 220,961 shares of the company’s stock worth $18,947,000 after acquiring an additional 161,662 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Arcosa by 152.2% in the third quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock worth $18,512,000 after acquiring an additional 117,892 shares in the last quarter. Finally, Thornburg Investment Management Inc. grew its stake in Arcosa by 7.6% during the 2nd quarter. Thornburg Investment Management Inc. now owns 166,128 shares of the company’s stock valued at $13,850,000 after purchasing an additional 11,735 shares in the last quarter. Institutional investors and hedge funds own 90.66% of the company’s stock.

Arcosa Stock Performance

ACA stock opened at $101.39 on Friday. The stock’s 50 day simple moving average is $94.70 and its 200 day simple moving average is $88.86. Arcosa, Inc. has a 12-month low of $71.89 and a 12-month high of $107.79. The firm has a market cap of $4.95 billion, a P/E ratio of 38.55 and a beta of 0.71. The company has a current ratio of 3.61, a quick ratio of 2.77 and a debt-to-equity ratio of 0.51.

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

Arcosa Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, October 15th. This represents a $0.20 annualized dividend and a yield of 0.20%. Arcosa’s dividend payout ratio (DPR) is 7.60%.

Insiders Place Their Bets

In related news, Director Steven J. Demetriou bought 6,000 shares of the business’s stock in a transaction on Thursday, September 12th. The shares were bought at an average cost of $87.70 per share, for a total transaction of $526,200.00. Following the completion of the purchase, the director now owns 9,943 shares of the company’s stock, valued at $872,001.10. This represents a 152.17 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have issued reports on ACA. Oppenheimer lifted their price objective on Arcosa from $100.00 to $105.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Stephens upgraded shares of Arcosa from an “equal weight” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research note on Wednesday, August 7th. Finally, Barclays started coverage on shares of Arcosa in a report on Tuesday, October 29th. They set an “overweight” rating and a $106.00 price objective for the company.

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.