Arcosa, Inc. (NYSE:ACA) Sees Significant Decline in Short Interest

Arcosa, Inc. (NYSE:ACA) saw a large decrease in short interest during the month of November. As of November 30th, there was short interest totalling 738,000 shares, a decrease of 8.1% from the November 15th total of 802,800 shares. Currently, 1.5% of the company’s shares are short sold. Based on an average trading volume of 246,700 shares, the days-to-cover ratio is currently 3.0 days.

Institutional Investors Weigh In On Arcosa

Hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC acquired a new position in shares of Arcosa in the 2nd quarter valued at approximately $25,000. Point72 DIFC Ltd bought a new position in Arcosa in the third quarter valued at about $37,000. Innealta Capital LLC acquired a new stake in Arcosa during the 2nd quarter worth approximately $69,000. KBC Group NV increased its position in Arcosa by 20.5% in the 3rd quarter. KBC Group NV now owns 1,424 shares of the company’s stock valued at $135,000 after acquiring an additional 242 shares during the period. Finally, First Trust Direct Indexing L.P. bought a new position in shares of Arcosa during the third quarter valued at $206,000. 90.66% of the stock is currently owned by institutional investors and hedge funds.

Arcosa Stock Performance

ACA opened at $106.79 on Wednesday. The company has a quick ratio of 2.77, a current ratio of 3.61 and a debt-to-equity ratio of 0.51. Arcosa has a 12-month low of $72.75 and a 12-month high of $113.43. The business has a 50 day moving average of $101.66 and a 200-day moving average of $92.10. The stock has a market cap of $5.21 billion, a price-to-earnings ratio of 40.60 and a beta of 0.74.

Arcosa (NYSE:ACA) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.13. The firm had revenue of $640.40 million for the quarter, compared to analysts’ expectations of $682.52 million. Arcosa had a net margin of 5.17% and a return on equity of 6.64%. The business’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.73 EPS. On average, equities research analysts expect that Arcosa will post 3.37 earnings per share for the current year.

Arcosa Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Wednesday, January 15th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.19%. The ex-dividend date is Wednesday, January 15th. Arcosa’s dividend payout ratio (DPR) is 7.60%.

Wall Street Analyst Weigh In

Separately, Barclays initiated coverage on Arcosa in a research note on Tuesday, October 29th. They issued an “overweight” rating and a $106.00 target price for the company.

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.