SG Americas Securities LLC Purchases Shares of 12,711 Construction Partners, Inc. (NASDAQ:ROAD)

SG Americas Securities LLC acquired a new position in Construction Partners, Inc. (NASDAQ:ROAD) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 12,711 shares of the company’s stock, valued at approximately $887,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in ROAD. Covestor Ltd raised its position in Construction Partners by 17,700.0% in the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after acquiring an additional 531 shares during the period. Benjamin F. Edwards & Company Inc. increased its stake in shares of Construction Partners by 244.4% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock worth $66,000 after purchasing an additional 836 shares in the last quarter. nVerses Capital LLC bought a new position in Construction Partners in the 2nd quarter worth $116,000. Public Employees Retirement Association of Colorado purchased a new position in Construction Partners during the second quarter valued at $162,000. Finally, Ameritas Investment Partners Inc. grew its holdings in Construction Partners by 7.1% during the first quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock valued at $240,000 after purchasing an additional 285 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $73.54 on Friday. The stock has a 50-day moving average price of $64.86 and a 200 day moving average price of $59.19. The stock has a market capitalization of $3.88 billion, a P/E ratio of 54.47, a P/E/G ratio of 1.28 and a beta of 0.67. Construction Partners, Inc. has a 12-month low of $36.70 and a 12-month high of $76.73. 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 (NASDAQ:ROAD) last announced its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business had revenue of $517.80 million during the quarter, compared to analyst estimates of $503.57 million. During the same period last year, the firm posted $0.41 EPS. The company’s revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Construction Partners, Inc. will post 1.43 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on ROAD shares. DA Davidson raised their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Stifel Nicolaus raised their target price on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James upped their price target on shares of 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 issued a strong buy rating to the company. According to data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $62.60.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total transaction 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 $6,357,626.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.80% of the stock is currently owned by insiders.

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.