Glenmede Trust Co. NA Lowers Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Glenmede Trust Co. NA lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 17.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 26,155 shares of the company’s stock after selling 5,439 shares during the period. Glenmede Trust Co. NA’s holdings in Construction Partners were worth $1,826,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Construction Partners by 8.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 27,774 shares of the company’s stock valued at $1,560,000 after buying an additional 2,203 shares during the period. Cetera Advisors LLC purchased a new stake in shares of Construction Partners in the first quarter worth about $254,000. EFG Asset Management North America Corp. grew its position in Construction Partners by 13.1% in the second quarter. EFG Asset Management North America Corp. now owns 47,569 shares of the company’s stock valued at $2,624,000 after acquiring an additional 5,499 shares in the last quarter. Conestoga Capital Advisors LLC increased its stake in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares during the period. Finally, Commonwealth Equity Services LLC purchased a new stake in shares of Construction Partners during the second quarter worth about $342,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ROAD shares. Raymond James raised their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. DA Davidson increased their price target on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Trading Up 0.5 %

NASDAQ:ROAD opened at $101.61 on Monday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.30. The stock has a market cap of $5.68 billion, a PE ratio of 76.98, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65. The stock’s 50-day moving average is $82.00 and its two-hundred day moving average is $67.30. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $103.24.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

About Construction Partners

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.