Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by State Street Corp

State Street Corp raised its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,004,867 shares of the company’s stock after acquiring an additional 26,189 shares during the period. State Street Corp owned approximately 1.90% of Construction Partners worth $70,140,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ROAD. Conestoga Capital Advisors LLC increased its holdings in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after purchasing an additional 120,155 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after buying an additional 24,828 shares during the period. American Century Companies Inc. grew its stake in shares of Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after buying an additional 70,099 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in Construction Partners by 16.1% during the 2nd quarter. Hood River Capital Management LLC now owns 476,021 shares of the company’s stock worth $26,281,000 after acquiring an additional 66,021 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Up 0.6 %

Shares of NASDAQ ROAD opened at $95.90 on Wednesday. The stock has a market cap of $5.36 billion, a P/E ratio of 72.65, a PEG ratio of 1.15 and a beta of 0.70. The business’s fifty day simple moving average is $88.34 and its 200-day simple moving average is $70.44. Construction Partners, Inc. has a 12-month low of $39.79 and a 12-month high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.

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

Insider Buying and Selling

In related news, SVP John L. Harper sold 6,000 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total value of $566,460.00. Following the transaction, the senior vice president now owns 154,856 shares of the company’s stock, valued at $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now directly owns 203,404 shares of the company’s stock, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,225 shares of company stock worth $13,159,543 over the last 90 days. 18.80% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three research 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners 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.