Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 86.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,447 shares of the company’s stock after acquiring an additional 5,313 shares during the period. Hsbc Holdings PLC’s holdings in Construction Partners were worth $635,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. ICA Group Wealth Management LLC acquired a new stake in shares of Construction Partners during the fourth quarter worth $30,000. Covestor Ltd lifted its stake in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after buying an additional 531 shares during the period. Benjamin F. Edwards & Company Inc. lifted its stake in shares of Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company’s stock worth $66,000 after buying an additional 836 shares during the period. YHB Investment Advisors Inc. acquired a new stake in shares of Construction Partners during the first quarter worth $116,000. Finally, nVerses Capital LLC acquired a new stake in shares of Construction Partners during the second quarter worth $116,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ROAD has been the subject of several research reports. DA Davidson lifted their price objective 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. Stifel Nicolaus lifted their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Finally, Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research note on Monday, August 12th. Three equities research 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 MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and an average target price of $59.67.

Construction Partners Trading Up 0.3 %

NASDAQ ROAD opened at $69.80 on Tuesday. The company has a market capitalization of $3.68 billion, a PE ratio of 59.66, a P/E/G ratio of 1.61 and a beta of 0.67. The company has a fifty day moving average of $63.31 and a 200 day moving average of $58.22. Construction Partners, Inc. has a 1 year low of $35.46 and a 1 year high of $76.73. 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 released its quarterly earnings data on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. During the same quarter in the previous year, the company earned $0.41 earnings per share. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Research analysts forecast that Construction Partners, Inc. will post 1.43 earnings per share for the current year.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on Thursday, August 22nd. The shares were 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 owns 102,592 shares of the company’s stock, valued at $6,357,626.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.80% of the stock is owned by corporate insiders.

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.