Raymond James & Associates Reduces Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Raymond James & Associates cut its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 19.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,809 shares of the company’s stock after selling 62,814 shares during the period. Raymond James & Associates’ holdings in Construction Partners were worth $18,693,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ROAD. nVerses Capital LLC raised its position in shares of Construction Partners by 19.0% during the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after buying an additional 400 shares during the period. NBC Securities Inc. increased its stake in Construction Partners by 36.9% during the third quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock worth $343,000 after acquiring an additional 1,327 shares during the last quarter. Creative Planning raised its position in Construction Partners by 22.8% in the third quarter. Creative Planning now owns 7,060 shares of the company’s stock valued at $493,000 after purchasing an additional 1,311 shares during the period. GAMMA Investing LLC lifted its stake in shares of Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of Construction Partners by 40.9% during the 3rd quarter. Handelsbanken Fonder AB now owns 12,400 shares of the company’s stock worth $866,000 after purchasing an additional 3,600 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ROAD shares. Raymond James boosted their price objective 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 boosted their price target on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Stifel Nicolaus increased their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Insider Buying and Selling at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction that occurred on 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 $6,357,626.24. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 18.80% of the stock is owned by corporate insiders.

Construction Partners Price Performance

Shares of ROAD opened at $77.49 on Friday. The company has a market cap of $4.08 billion, a P/E ratio of 66.23, a PEG ratio of 1.50 and a beta of 0.67. Construction Partners, Inc. has a fifty-two week low of $36.70 and a fifty-two week high of $86.00. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average price is $68.63 and its 200 day moving average price is $60.67.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. The business had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. On average, research analysts forecast 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.