Principal Financial Group Inc. Sells 27,472 Shares of Arcosa, Inc. (NYSE:ACA)

Principal Financial Group Inc. lowered its holdings in Arcosa, Inc. (NYSE:ACA) by 10.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,966 shares of the company’s stock after selling 27,472 shares during the period. Principal Financial Group Inc.’s holdings in Arcosa were worth $21,792,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Arcosa by 1.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 553,157 shares of the company’s stock worth $46,139,000 after buying an additional 6,673 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in 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 in the last quarter. Russell Investments Group Ltd. raised its holdings in Arcosa by 6.9% during the first quarter. Russell Investments Group Ltd. now owns 294,928 shares of the company’s stock worth $25,323,000 after acquiring an additional 18,967 shares in the last quarter. Boston Partners boosted its position in Arcosa by 272.6% during the first quarter. Boston Partners now owns 220,961 shares of the company’s stock valued at $18,947,000 after purchasing an additional 161,662 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its position in shares of Arcosa by 152.2% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 195,358 shares of the company’s stock worth $18,512,000 after purchasing an additional 117,892 shares during the last quarter. Institutional investors own 90.66% of the company’s stock.

Analyst Upgrades and Downgrades

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

Arcosa Price Performance

ACA stock opened at $103.18 on Thursday. Arcosa, Inc. has a 1 year low of $71.89 and a 1 year high of $107.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 3.61 and a quick ratio of 2.77. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 39.23 and a beta of 0.71. The company has a 50 day simple moving average of $93.89 and a 200 day simple moving average of $88.51.

Arcosa (NYSE:ACA) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.13. The company had revenue of $640.40 million during the quarter, compared to analysts’ expectations of $682.52 million. Arcosa had a return on equity of 6.64% and a net margin of 5.17%. Arcosa’s revenue was up 8.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.73 EPS. Research analysts anticipate that Arcosa, Inc. will post 3.38 EPS for the current fiscal year.

Arcosa Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Tuesday, October 15th were issued a $0.05 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.20 dividend on an annualized basis and a yield of 0.19%. Arcosa’s payout ratio is 7.60%.

Insider Buying and Selling

In other Arcosa news, insider Bryan Stevenson sold 4,000 shares of the company’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $83.78, for a total value of $335,120.00. Following the sale, the insider now owns 35,333 shares in the company, valued at approximately $2,960,198.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Bryan Stevenson sold 4,000 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $83.78, for a total value of $335,120.00. Following the sale, the insider now directly owns 35,333 shares of the company’s stock, valued at approximately $2,960,198.74. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Steven J. Demetriou acquired 6,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were purchased at an average price of $87.70 per share, with a total value of $526,200.00. Following the completion of the transaction, the director now owns 9,943 shares of the company’s stock, valued at $872,001.10. This trade represents a 100.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.

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.