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Arcosa, Inc. (NYSE:ACA) Shares Sold by Verition Fund Management LLC

Defense World · Sep 24, 2022 04:31

Verition Fund Management LLC decreased its holdings in shares of Arcosa, Inc. (NYSE:ACA – Get Rating) by 89.0% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,617 shares of the company's stock after selling 78,123 shares during the period. Verition Fund Management LLC's holdings in Arcosa were worth $551,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Arcosa by 492.4% during the first quarter. Quadrant Capital Group LLC now owns 545 shares of the company's stock worth $31,000 after buying an additional 453 shares during the period. Strs Ohio acquired a new stake in shares of Arcosa during the first quarter worth about $40,000. Quantbot Technologies LP acquired a new stake in shares of Arcosa during the first quarter worth about $59,000. Kepos Capital LP acquired a new stake in shares of Arcosa during the fourth quarter worth about $76,000. Finally, Wellington Shields & Co. LLC purchased a new position in Arcosa during the first quarter worth about $206,000. Institutional investors and hedge funds own 90.39% of the company's stock.

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Arcosa Trading Down 4.0 %

Shares of Arcosa stock opened at $54.53 on Friday. Arcosa, Inc. has a 12-month low of $43.42 and a 12-month high of $65.80. The company has a current ratio of 2.09, a quick ratio of 1.38 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.64 billion, a PE ratio of 29.01 and a beta of 0.50. The company has a 50-day moving average of $57.40 and a two-hundred day moving average of $54.25.

Arcosa (NYSE:ACA – Get Rating) last issued its earnings results on Wednesday, August 3rd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.46 by $0.37. Arcosa had a net margin of 4.15% and a return on equity of 5.53%. The company had revenue of $602.80 million during the quarter, compared to analysts' expectations of $547.00 million. During the same period last year, the company posted $0.60 earnings per share. On average, research analysts anticipate that Arcosa, Inc. will post 2.31 EPS for the current fiscal year.

Arcosa Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, October 14th will be issued a $0.05 dividend. The ex-dividend date is Thursday, October 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.37%. Arcosa's dividend payout ratio (DPR) is presently 10.64%.

Insider Transactions at Arcosa

In other news, Director Ronald J. Gafford sold 2,017 shares of the firm's stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $65.16, for a total transaction of $131,427.72. Following the completion of the transaction, the director now directly owns 25,459 shares of the company's stock, valued at approximately $1,658,908.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.76% of the company's stock.

Wall Street Analysts Forecast Growth

ACA has been the subject of several analyst reports. Stephens increased their price target on shares of Arcosa from $65.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, August 8th. DA Davidson increased their price target on shares of Arcosa to $68.00 in a report on Tuesday, August 9th. Finally, TheStreet raised shares of Arcosa from a "c+" rating to a "b-" rating in a report on Thursday, August 4th.

About Arcosa

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Arcosa, Inc, together with its subsidiaries, provides infrastructure-related products and solutions for the construction, energy, and transportation markets in North America. It operates through three segments: Construction Products, Engineered Structures, and Transportation Products. The Construction Products segment offers natural and recycled aggregates; specialty materials; and trench shields and shoring products for residential and non-residential construction, agriculture, specialty building products, as well as for infrastructure related projects.