Principal Financial Group Inc. Sells 2,065 Shares of Arcosa, Inc. (NYSE:ACA)

Posted by MarketBeat News on May 24th, 2023

Principal Financial Group Inc. trimmed its position in Arcosa, Inc. (NYSE:ACA – Get Rating) by 0.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 301,982 shares of the company’s stock after selling 2,065 shares during the quarter. Principal Financial Group Inc.’s holdings in Arcosa were worth $16,410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Arcosa by 1.6% in the 3rd quarter. Vanguard Group Inc. now owns 5,351,494 shares of the company’s stock valued at $305,998,000 after buying an additional 84,223 shares in the last quarter. Alliancebernstein L.P. lifted its stake in Arcosa by 2.9% in the third quarter. Alliancebernstein L.P. now owns 2,546,237 shares of the company’s stock valued at $145,594,000 after purchasing an additional 72,389 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Arcosa by 5.6% in the third quarter. Dimensional Fund Advisors LP now owns 2,459,593 shares of the company’s stock valued at $140,639,000 after purchasing an additional 130,903 shares during the last quarter. State Street Corp lifted its stake in Arcosa by 2.8% in the first quarter. State Street Corp now owns 2,001,660 shares of the company’s stock valued at $114,595,000 after purchasing an additional 54,431 shares during the last quarter. Finally, Capital World Investors lifted its stake in Arcosa by 19.0% in the first quarter. Capital World Investors now owns 1,881,470 shares of the company’s stock valued at $107,714,000 after purchasing an additional 300,000 shares during the last quarter. 88.88% of the stock is owned by institutional investors.

Arcosa Trading Down 0.2 %

Arcosa stock opened at $68.60 on Wednesday. The stock has a market cap of $3.32 billion, a P/E ratio of 11.89 and a beta of 0.55. Arcosa, Inc. has a fifty-two week low of $43.52 and a fifty-two week high of $71.00. The firm’s fifty day moving average price is $63.34 and its 200-day moving average price is $59.87. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.54 and a current ratio of 2.40.

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Arcosa (NYSE:ACA – Get Rating) last released its quarterly earnings results on Friday, April 28th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.56. The firm had revenue of $549.20 million for the quarter, compared to analysts’ expectations of $499.16 million. Arcosa had a net margin of 12.47% and a return on equity of 6.52%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.42 earnings per share. Equities research analysts forecast that Arcosa, Inc. will post 2.45 earnings per share for the current fiscal year.

Arcosa Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 31st. Investors of record on Friday, July 14th will be paid a $0.05 dividend. The ex-dividend date is Thursday, July 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.29%. Arcosa’s dividend payout ratio is presently 3.47%.

Analyst Upgrades and Downgrades

ACA has been the topic of several research analyst reports. Oppenheimer upped their price objective on Arcosa from $75.00 to $85.00 in a research note on Monday, May 8th. DA Davidson increased their target price on Arcosa from $80.00 to $85.00 in a research report on Monday, May 1st. Finally, Loop Capital increased their target price on Arcosa from $75.00 to $80.00 in a research report on Monday, May 1st.

Insider Activity at Arcosa

In related news, insider Jesse E. Jr. Collins sold 8,591 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $69.19, for a total value of $594,411.29. Following the transaction, the insider now owns 16,766 shares of the company’s stock, valued at $1,160,039.54. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jesse E. Jr. Collins sold 8,591 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $69.19, for a total transaction of $594,411.29. Following the transaction, the insider now directly owns 16,766 shares of the company’s stock, valued at $1,160,039.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronald J. Gafford sold 2,370 shares of the firm’s stock in a transaction dated Wednesday, May 10th. The shares were sold at an average price of $68.65, for a total value of $162,700.50. Following the transaction, the director now directly owns 24,995 shares in the company, valued at $1,715,906.75. The disclosure for this sale can be found here. 1.30% of the stock is owned by insiders.

Arcosa Profile

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Arcosa, Inc engages in the provision of infrastructure-related products and services. It operates through the following segments: Construction Products, Energy Equipment, and Transportation Products. The Construction Products segment produces and sells construction aggregates, and manufactures and sells trench shields and shoring products and services for infrastructure-related projects.