Orion Portfolio Solutions LLC Lowers Position in Construction Partners, Inc. (NASDAQ:ROAD)

Orion Portfolio Solutions LLC decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 20.3% during the third quarter, Holdings Channel reports. The fund owned 4,278 shares of the company’s stock after selling 1,091 shares during the period. Orion Portfolio Solutions LLC’s holdings in Construction Partners were worth $299,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares in the last quarter. KBC Group NV raised its holdings in Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after buying an additional 653 shares during the period. nVerses Capital LLC bought a new stake in shares of Construction Partners during the 2nd quarter valued at $116,000. Finally, Voya Financial Advisors Inc. purchased a new stake in shares of Construction Partners in the 3rd quarter worth about $203,000. Institutional investors own 94.83% of the company’s stock.

Analyst Ratings Changes

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

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $91.87 on Friday. The company has a market capitalization of $5.13 billion, a PE ratio of 69.60, a PEG ratio of 1.15 and a beta of 0.70. The business has a fifty day moving average price of $89.64 and a 200-day moving average price of $70.98. Construction Partners, Inc. has a 1-year low of $39.79 and a 1-year high of $103.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26.

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

Insider Buying and Selling

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now directly owns 154,856 shares in the company, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 133,736 shares of company stock worth $13,400,248 in the last three months. Insiders own 18.80% of the company’s stock.

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.