Pendal Group Ltd Sells 6,093 Shares of Arcosa Inc (NYSE:ACA)

Pendal Group Ltd lowered its holdings in shares of Arcosa Inc (NYSE:ACA) by 20.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 23,653 shares of the company’s stock after selling 6,093 shares during the period. Pendal Group Ltd’s holdings in Arcosa were worth $890,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Royce & Associates LP increased its position in shares of Arcosa by 3.7% during the first quarter. Royce & Associates LP now owns 1,130,241 shares of the company’s stock worth $34,529,000 after buying an additional 39,989 shares during the period. FMR LLC acquired a new stake in shares of Arcosa during the fourth quarter worth $30,479,000. Norges Bank acquired a new stake in shares of Arcosa during the fourth quarter worth $19,298,000. Copper Rock Capital Partners LLC acquired a new stake in shares of Arcosa during the second quarter worth $25,790,000. Finally, Marshall Wace LLP acquired a new stake in shares of Arcosa during the first quarter worth $20,750,000. 83.40% of the stock is owned by hedge funds and other institutional investors.

Shares of ACA traded up $0.87 during trading hours on Friday, hitting $31.88. 1,748 shares of the stock were exchanged, compared to its average volume of 367,468. Arcosa Inc has a fifty-two week low of $21.00 and a fifty-two week high of $39.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.07 and a quick ratio of 1.63. The business has a 50-day moving average of $35.83 and a 200-day moving average of $33.63. The firm has a market capitalization of $1.59 billion and a P/E ratio of 17.47.

Arcosa (NYSE:ACA) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.65 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.18. Arcosa had a net margin of 5.66% and a return on equity of 5.14%. The company had revenue of $434.10 million during the quarter, compared to analysts’ expectations of $429.22 million. Arcosa’s revenue for the quarter was up 23.0% on a year-over-year basis. As a group, analysts forecast that Arcosa Inc will post 2.13 earnings per share for the current fiscal year.

Separately, Zacks Investment Research cut shares of Arcosa from a “buy” rating to a “sell” rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $39.95.

In other Arcosa news, insider Valueact Capital Master Fund, sold 1,500,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $36.03, for a total value of $54,045,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.37% of the company’s stock.

About Arcosa

Arcosa, Inc manufactures and sells infrastructure-related products and services for the construction, energy, and transportation markets. It operates through three segments: Construction Products Group, Energy Equipment Group, and Transportation Products Group. The Construction Products Group segment offers lightweight and natural construction aggregates, and trench shields and shoring products that are used in construction landscape, including commercial, industrial, road and bridge, and underground construction.

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Institutional Ownership by Quarter for Arcosa (NYSE:ACA)

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