Arcosa , Inc. (NYSE:ACA) Group President Jesse E. Collins Jr. has sold a significant amount of company stock, according to a recent filing. On May 15, Collins sold a total of 9,626 shares of Arcosa common stock, resulting in proceeds of over $850,000. The transactions occurred in multiple sales at weighted average prices ranging from $88.44 to $88.88 per share.
The sales were part of a series of transactions that also included an award of 7,344 shares to Collins, which he received at no cost. However, the executive also reported a disposition of 3,777 shares through a transaction priced at $89.24 per share, amounting to a total value of $337,059, to cover tax liabilities typically associated with such awards.
Investors following insider activity may note that following these transactions, Collins' direct ownership in the company stands at 12,970 shares of common stock. The sales and the award were disclosed in a regulatory filing with the Securities and Exchange Commission.
Arcosa, Inc., based in Dallas, Texas, is a provider of infrastructure-related products and solutions with a broad range of construction, energy, and transportation markets. The company's stock performance and insider transactions are closely watched by investors seeking insights into the company's health and executive confidence.
The filing, signed by Mark Elmore with power of attorney, was submitted on May 16, the day following the transactions. It provides transparency into the trading activities of the company's executives, offering stakeholders a glimpse into the financial moves of Arcosa's higher-ups.
InvestingPro Insights
Arcosa, Inc. (NYSE:ACA) has demonstrated resilience and potential for growth, which is reflected in both the company's recent financial performance and market sentiment. With a market capitalization of $4.22 billion, Arcosa continues to maintain a strong presence in its industry. The company's P/E ratio stands at 29.68, indicating investors' expectations of future earnings growth, bolstered by a positive revision of earnings by 4 analysts for the upcoming period – a notable InvestingPro Tip that suggests confidence in the company's profitability trajectory. Additionally, the company's revenue growth over the last twelve months as of Q1 2024 was 4.48%, with a more robust quarterly revenue growth of 8.99% in Q1 2024, reflecting steady business expansion.
Another InvestingPro Tip worth mentioning is the company's liquidity position, where liquid assets surpass short-term obligations, providing Arcosa with a solid financial cushion for operational needs and potential investments. Moreover, with a moderate level of debt, the company maintains a balance between leveraging opportunities for growth and ensuring financial stability. The robust return of 12.93% over the last month further underscores the company's strong performance and might be a signal for investors considering the stock's potential for continued appreciation.
For those interested in deeper analysis and additional insights, there are more InvestingPro Tips available for Arcosa, Inc. These tips can provide a more comprehensive understanding of the company's financial health and future prospects. To access these insights, visit https://www.investing.com/pro/ACA and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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