Benjamin F. Edwards & Company Inc. increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD – Free Report) by 55.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,831 shares of the company’s stock after buying an additional 653 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Construction Partners were worth $101,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also bought and sold shares of the company. Covestor Ltd increased its holdings in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the period. ICA Group Wealth Management LLC acquired a new stake in shares of Construction Partners during the 4th quarter worth $30,000. YHB Investment Advisors Inc. acquired a new position in Construction Partners in the first quarter valued at about $116,000. nVerses Capital LLC bought a new stake in Construction Partners during the second quarter worth about $116,000. Finally, SG Americas Securities LLC acquired a new stake in Construction Partners during the first quarter worth about $139,000. Institutional investors and hedge funds own 94.83% of the company’s stock.
Construction Partners Stock Performance
Shares of Construction Partners stock opened at $69.58 on Friday. The stock has a market cap of $3.67 billion, a price-to-earnings ratio of 59.47, a P/E/G ratio of 1.61 and a beta of 0.67. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a twelve month low of $35.46 and a twelve month high of $76.73. The company’s fifty day moving average is $63.16 and its 200 day moving average is $58.01.
Analysts Set New Price Targets
Several research firms recently issued reports on ROAD. DA Davidson increased their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Raymond James boosted their price target on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Finally, Stifel Nicolaus raised their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Three equities research 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. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $59.67.
Read Our Latest Stock Report on ROAD
Insiders Place Their Bets
In other news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction 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 sale, the director now directly 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 SEC, which is available at the SEC website. Company insiders own 18.80% of the company’s stock.
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.
Featured Stories
- Five stocks we like better than Construction Partners
- How to Choose Top Rated Stocks
- Can Costco Stock Hit New Highs as Interest Rates Drop?
- EV Stocks and How to Profit from Them
- These 3 Stocks Show How to Navigate Declining Consumer Confidence
- What Does Downgrade Mean in Investing?
- MicroStrategy’s Returns Are 3X Higher Than Bitcoin: Time to Buy?
Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD – Free Report).
Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.