State Street Corp Raises Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

State Street Corp lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 2.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 1,004,867 shares of the company’s stock after acquiring an additional 26,189 shares during the period. State Street Corp’s holdings in Construction Partners were worth $70,140,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after purchasing an additional 171 shares during the last quarter. KBC Group NV boosted its position in shares of Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. grew its stake in Construction Partners by 55.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after buying an additional 653 shares during the last quarter. nVerses Capital LLC acquired a new position in Construction Partners during the second quarter worth approximately $116,000. Finally, Public Employees Retirement Association of Colorado purchased a new stake in Construction Partners in the second quarter valued at approximately $162,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Up 0.6 %

Shares of ROAD stock opened at $95.90 on Wednesday. The company has a market capitalization of $5.36 billion, a P/E ratio of 72.65, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $88.34 and its two-hundred day moving average is $70.44. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.69.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the business earned $0.59 earnings per share. Equities analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Transactions at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 131,225 shares of company stock worth $13,159,543 over the last ninety days. 18.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.00.

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.