Atria Investments Inc Sells 2,257 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Atria Investments Inc lessened its position in Construction Partners, Inc. (NASDAQ:ROAD) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,480 shares of the company’s stock after selling 2,257 shares during the period. Atria Investments Inc’s holdings in Construction Partners were worth $1,081,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Clearbridge Investments LLC bought a new stake in Construction Partners in the second quarter valued at $20,360,000. Driehaus Capital Management LLC boosted its stake in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after purchasing an additional 137,572 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after buying an additional 120,155 shares during the period. Engle Capital Management L.P. bought a new position in Construction Partners in the second quarter worth about $5,742,000. Finally, American Century Companies Inc. raised its stake in Construction Partners by 8.0% in the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after buying an additional 70,099 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Transactions at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on 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 transaction, the director now directly owns 102,592 shares in the company, valued at approximately $6,357,626.24. This trade represents a 19.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Construction Partners Stock Down 0.8 %

NASDAQ ROAD opened at $88.52 on Friday. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $97.25. The firm has a market capitalization of $4.67 billion, a price-to-earnings ratio of 65.57, a PEG ratio of 1.14 and a beta of 0.65. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The company has a fifty day moving average of $75.79 and a two-hundred day moving average of $64.20.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on ROAD shares. Stifel Nicolaus raised their target price on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Raymond James raised their price objective 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. Robert W. Baird boosted their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, 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 note on Tuesday, August 13th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

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.