ClariVest Asset Management LLC Has $495,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

ClariVest Asset Management LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 63.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,957 shares of the company’s stock after selling 15,507 shares during the quarter. ClariVest Asset Management LLC’s holdings in Construction Partners were worth $495,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of ROAD. Charles Schwab Investment Management Inc. increased its stake in shares of Construction Partners by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 442,466 shares of the company’s stock valued at $19,256,000 after buying an additional 3,647 shares in the last quarter. Teacher Retirement System of Texas acquired a new stake in shares of Construction Partners in the fourth quarter valued at $583,000. BNP Paribas Financial Markets increased its stake in shares of Construction Partners by 2.0% in the fourth quarter. BNP Paribas Financial Markets now owns 38,829 shares of the company’s stock valued at $1,690,000 after buying an additional 745 shares in the last quarter. Jump Financial LLC acquired a new stake in shares of Construction Partners in the fourth quarter valued at $1,048,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Construction Partners by 13.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock valued at $38,897,000 after buying an additional 105,346 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

Shares of ROAD stock opened at $63.29 on Friday. The stock has a 50-day moving average price of $60.05 and a 200 day moving average price of $56.38. 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 has a market cap of $3.34 billion, a price-to-earnings ratio of 54.09, a PEG ratio of 1.29 and a beta of 0.67. Construction Partners, Inc. has a 12 month low of $34.21 and a 12 month high of $66.78.

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

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares in the company, valued at $6,357,626.24. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 18.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ROAD shares. Stifel Nicolaus raised their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. DA Davidson lifted their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Raymond James lifted their price objective on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $59.67.

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.