Magnetar Financial LLC Takes $3.09 Million Position in Arcosa, Inc. $ACA

Magnetar Financial LLC acquired a new position in shares of Arcosa, Inc. (NYSE:ACA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 32,961 shares of the company’s stock, valued at approximately $3,089,000. Magnetar Financial LLC owned approximately 0.07% of Arcosa at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Arcosa by 7.4% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,533 shares of the company’s stock worth $1,087,000 after purchasing an additional 860 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in Arcosa in the second quarter valued at $7,884,000. Impax Asset Management Group plc increased its position in shares of Arcosa by 74.7% in the third quarter. Impax Asset Management Group plc now owns 141,500 shares of the company’s stock valued at $13,260,000 after buying an additional 60,500 shares in the last quarter. First Trust Advisors LP increased its position in shares of Arcosa by 29.0% in the second quarter. First Trust Advisors LP now owns 617,265 shares of the company’s stock valued at $53,523,000 after buying an additional 138,676 shares in the last quarter. Finally, AXQ Capital LP acquired a new position in shares of Arcosa during the 2nd quarter worth $421,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently commented on ACA. Wall Street Zen lowered shares of Arcosa from a “buy” rating to a “hold” rating in a research report on Sunday, March 1st. Weiss Ratings downgraded shares of Arcosa from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, March 2nd. Finally, DA Davidson lifted their target price on shares of Arcosa from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, March 2nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $120.00.

Arcosa Stock Performance

Arcosa stock opened at $110.42 on Thursday. Arcosa, Inc. has a fifty-two week low of $68.11 and a fifty-two week high of $131.00. The company has a market capitalization of $5.41 billion, a price-to-earnings ratio of 26.04, a PEG ratio of 1.42 and a beta of 1.01. The stock has a fifty day moving average of $116.39 and a two-hundred day moving average of $105.55. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.35 and a current ratio of 2.20.

Arcosa (NYSE:ACA) last issued its quarterly earnings data on Thursday, February 26th. The company reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.20. The business had revenue of $716.70 million for the quarter, compared to the consensus estimate of $719.46 million. Arcosa had a return on equity of 8.64% and a net margin of 7.23%.The business’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.46 earnings per share. On average, analysts anticipate that Arcosa, Inc. will post 3.23 EPS for the current fiscal year.

Arcosa Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Wednesday, April 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date is Wednesday, April 15th. Arcosa’s dividend payout ratio is 4.72%.

Arcosa Profile

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.