nVerses Capital LLC Buys 400 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

nVerses Capital LLC lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 19.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,500 shares of the company’s stock after acquiring an additional 400 shares during the quarter. nVerses Capital LLC’s holdings in Construction Partners were worth $174,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. GAMMA Investing LLC grew its stake in shares of Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares during the period. Arizona State Retirement System grew its stake in shares of Construction Partners by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after acquiring an additional 257 shares during the period. Ameritas Investment Partners Inc. grew its stake in shares of Construction Partners by 7.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock valued at $240,000 after acquiring an additional 285 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in shares of Construction Partners by 4.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,023 shares of the company’s stock valued at $394,000 after acquiring an additional 292 shares during the period. Finally, Covestor Ltd grew its stake in shares of Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock valued at $30,000 after acquiring an additional 531 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Construction Partners

In other 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 value of $1,574,533.76. Following the completion of the transaction, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 18.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently commented on ROAD. Stifel Nicolaus boosted their price target 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 boosted their target price on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Finally, DA Davidson increased their price target on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Three investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.60.

Construction Partners Trading Down 1.0 %

Construction Partners stock opened at $74.70 on Friday. The stock has a 50-day moving average of $66.62 and a two-hundred day moving average of $59.85. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. Construction Partners, Inc. has a one year low of $36.70 and a one year high of $76.74. The stock has a market cap of $3.94 billion, a PE ratio of 63.85, a price-to-earnings-growth ratio of 1.35 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating 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 company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue was up 22.7% compared to the same quarter last year. On average, research analysts anticipate that Construction Partners, Inc. will post 1.43 EPS 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.