Commonwealth Equity Services LLC Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Commonwealth Equity Services LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,203 shares of the company’s stock, valued at approximately $342,000.

A number of other institutional investors also recently bought and sold shares of the stock. Conestoga Capital Advisors LLC raised its holdings in shares of Construction Partners by 3.0% in the second 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 last quarter. Geneva Capital Management LLC raised its stake in Construction Partners by 8.5% in the 1st quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company’s stock worth $191,403,000 after acquiring an additional 268,225 shares during the last quarter. Vanguard Group Inc. lifted its position in Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after acquiring an additional 69,223 shares during the period. Wasatch Advisors LP grew its stake in Construction Partners by 188.3% during the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after purchasing an additional 1,105,423 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 purchasing an additional 105,346 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $6,357,626.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.80% of the company’s stock.

Construction Partners Trading Down 1.8 %

Shares of NASDAQ:ROAD opened at $71.25 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 12-month low of $35.46 and a 12-month high of $76.73. The business has a 50 day moving average of $62.23 and a two-hundred day moving average of $57.57. The company has a market capitalization of $3.76 billion, a PE ratio of 60.90, a PEG ratio of 1.52 and a beta of 0.67.

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on ROAD shares. Stifel Nicolaus lifted their target price on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Raymond James upped 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. Finally, DA Davidson increased their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Construction Partners currently has an average rating of “Moderate Buy” and an average target price 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.