Victory Capital Management Inc. Sells 1,019 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Victory Capital Management Inc. cut its position in Construction Partners, Inc. (NASDAQ:ROAD) by 3.9% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 25,069 shares of the company’s stock after selling 1,019 shares during the period. Victory Capital Management Inc.’s holdings in Construction Partners were worth $1,750,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Clearbridge Investments LLC bought a new stake in Construction Partners in the 2nd quarter valued at $20,360,000. Driehaus Capital Management LLC grew its stake in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after acquiring an additional 120,155 shares during the period. Engle Capital Management L.P. acquired a new stake in Construction Partners during the second quarter worth approximately $5,742,000. Finally, American Century Companies Inc. boosted its holdings in shares of Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after acquiring an additional 70,099 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Up 3.2 %

Shares of ROAD opened at $99.98 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $100.70. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 75.74, a PEG ratio of 1.21 and a beta of 0.65. The business’s fifty day moving average is $79.08 and its 200-day moving average is $65.77.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. Construction Partners’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.59 EPS. Equities analysts anticipate that Construction Partners, Inc. will post 1.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ROAD shares. Raymond James lifted their price target on shares of 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 upped their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus raised their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, DA Davidson boosted their price target on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Three investment 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’s stock. According to MarketBeat, the stock has a consensus 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.