Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lessened its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 5.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,612 shares of the company’s stock after selling 1,014 shares during the quarter. Cetera Investment Advisers’ holdings in Construction Partners were worth $1,028,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Algert Global LLC acquired a new position in shares of Construction Partners in the 2nd quarter valued at $244,000. Driehaus Capital Management LLC lifted its holdings in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after acquiring an additional 137,572 shares in the last quarter. Ninepoint Partners LP acquired a new position in shares of Construction Partners during the 2nd quarter valued at $954,000. The Manufacturers Life Insurance Company lifted its holdings in shares of Construction Partners by 7.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 23,570 shares of the company’s stock valued at $1,301,000 after acquiring an additional 1,649 shares in the last quarter. Finally, Dark Forest Capital Management LP lifted its holdings in shares of Construction Partners by 147.1% during the 2nd quarter. Dark Forest Capital Management LP now owns 17,229 shares of the company’s stock valued at $951,000 after acquiring an additional 10,256 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ROAD shares. Raymond James lifted their target price on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. DA Davidson lifted their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.60.

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the completion of the transaction, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.80% of the stock is owned by insiders.

Construction Partners Stock Performance

Shares of ROAD stock opened at $75.43 on Friday. The company’s fifty day moving average price is $66.31 and its two-hundred day moving average price is $59.70. The firm has a market capitalization of $3.98 billion, a P/E ratio of 55.87, a P/E/G ratio of 1.35 and a beta of 0.67. Construction Partners, Inc. has a 12 month low of $36.70 and a 12 month high of $76.74. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same quarter in the prior year, the firm earned $0.41 EPS. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. On average, research analysts anticipate that Construction Partners, Inc. will post 1.43 earnings per share for the current fiscal year.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.