Corebridge Financial Inc. Decreases Stock Position in Arcosa, Inc. (NYSE:ACA)

Corebridge Financial Inc. reduced its holdings in shares of Arcosa, Inc. (NYSE:ACA) by 7.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 25,849 shares of the company’s stock after selling 2,019 shares during the period. Corebridge Financial Inc.’s holdings in Arcosa were worth $2,501,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ACA. Cerity Partners LLC increased its stake in shares of Arcosa by 29.1% during the 3rd quarter. Cerity Partners LLC now owns 19,295 shares of the company’s stock worth $1,828,000 after purchasing an additional 4,350 shares in the last quarter. FMR LLC increased its position in Arcosa by 95.7% during the third quarter. FMR LLC now owns 36,097 shares of the company’s stock worth $3,421,000 after buying an additional 17,648 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Arcosa by 76.8% in the third quarter. Captrust Financial Advisors now owns 4,809 shares of the company’s stock valued at $456,000 after acquiring an additional 2,089 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Arcosa by 52.3% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 3,018 shares of the company’s stock valued at $286,000 after acquiring an additional 1,036 shares during the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of Arcosa during the third quarter valued at $237,000. Institutional investors and hedge funds own 90.66% of the company’s stock.

Arcosa Trading Up 1.2 %

Shares of Arcosa stock opened at $78.07 on Wednesday. The firm has a market cap of $3.81 billion, a PE ratio of 29.68 and a beta of 0.81. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51. Arcosa, Inc. has a fifty-two week low of $72.75 and a fifty-two week high of $113.43. The business’s fifty day moving average is $90.50 and its two-hundred day moving average is $96.07.

Arcosa Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Tuesday, April 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend is Tuesday, April 15th. Arcosa’s payout ratio is 10.47%.

Analyst Ratings Changes

Separately, Oppenheimer upped their target price on shares of Arcosa from $105.00 to $110.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th.

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.