Construction Partners, Inc. (NASDAQ:ROAD) Stake Lowered by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 20.7% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,025 shares of the company’s stock after selling 1,309 shares during the quarter. Mesirow Financial Investment Management Inc.’s holdings in Construction Partners were worth $351,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROAD. Covestor Ltd increased its stake in shares of Construction Partners by 17,700.0% during the 1st quarter. Covestor Ltd now owns 534 shares of the company’s stock worth $30,000 after purchasing an additional 531 shares during the last quarter. GAMMA Investing LLC increased its position in 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 buying an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings 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 in the last quarter. nVerses Capital LLC acquired a new stake in shares of Construction Partners in the second quarter worth about $116,000. Finally, SG Americas Securities LLC bought a new stake in shares of Construction Partners during the 1st quarter worth about $139,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ROAD. Robert W. Baird raised their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Stifel Nicolaus boosted 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. Raymond James raised their target price on shares of 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, DA Davidson boosted their target price 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. Three 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Price Performance

NASDAQ:ROAD opened at $94.51 on Wednesday. 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, Inc. has a one year low of $39.01 and a one year high of $97.25. The company has a fifty day moving average price of $73.86 and a 200 day moving average price of $63.49. The stock has a market cap of $4.99 billion, a P/E ratio of 70.01, a PEG ratio of 1.18 and a beta of 0.65.

Insider Transactions at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the sale, the director now directly owns 102,592 shares of the company’s stock, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.