Asset Management One Co. Ltd. Sells 4,862 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Asset Management One Co. Ltd. decreased its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 70,023 shares of the company’s stock after selling 4,862 shares during the period. Asset Management One Co. Ltd.’s holdings in Construction Partners were worth $4,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Envestnet Portfolio Solutions Inc. grew its position in shares of Construction Partners by 4.3% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 7,023 shares of the company’s stock valued at $394,000 after buying an additional 292 shares during the last quarter. SG Americas Securities LLC bought a new stake in Construction Partners in the first quarter valued at approximately $139,000. TimesSquare Capital Management LLC acquired a new stake in Construction Partners during the 1st quarter valued at approximately $19,832,000. Tectonic Advisors LLC bought a new position in Construction Partners during the 1st quarter worth approximately $310,000. Finally, Sei Investments Co. lifted its position in shares of Construction Partners by 12.6% in the 1st quarter. Sei Investments Co. now owns 72,337 shares of the company’s stock worth $4,062,000 after purchasing an additional 8,083 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. 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 report on Tuesday, August 13th. Stifel Nicolaus increased 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 price objective on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Finally, Robert W. Baird raised their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three investment 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 company. According to data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Insider Buying and Selling

In other Construction Partners 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 transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 18.80% of the stock is owned by company insiders.

Construction Partners Price Performance

ROAD stock opened at $94.46 on Friday. Construction Partners, Inc. has a 1 year low of $38.97 and a 1 year high of $94.62. The stock has a market capitalization of $4.98 billion, a PE ratio of 69.97, a price-to-earnings-growth ratio of 1.66 and a beta of 0.65. The company’s 50-day moving average is $72.59 and its 200-day moving average is $62.72. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data 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 firm had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. During the same quarter last year, the firm posted $0.41 earnings per share. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. Equities research analysts expect that Construction Partners, Inc. will post 1.33 EPS for the current fiscal year.

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.