Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 0.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,027,692 shares of the company’s stock after acquiring an additional 2,186 shares during the quarter. Geode Capital Management LLC’s holdings in Construction Partners were worth $71,748,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ROAD. Clearbridge Investments LLC purchased a new position in Construction Partners in the second quarter valued at $20,360,000. Fred Alger Management LLC acquired a new stake in Construction Partners in the 3rd quarter valued at about $16,535,000. Segall Bryant & Hamill LLC purchased a new position in shares of Construction Partners in the 3rd quarter valued at about $10,377,000. Driehaus Capital Management LLC grew its position in shares of Construction Partners by 31.9% during the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares in the last quarter. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after buying an additional 120,155 shares during the period. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the transaction, the director now owns 130,291 shares of the company’s stock, valued at $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,736 shares of company stock worth $13,400,248. Corporate insiders own 18.80% 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 stock a “neutral” rating in a research note on Tuesday, October 22nd. Three investment 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 presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Trading Up 1.0 %

NASDAQ:ROAD opened at $92.77 on Friday. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $103.69. The stock has a market cap of $5.18 billion, a P/E ratio of 70.28, a P/E/G ratio of 1.15 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The stock has a 50-day simple moving average of $89.64 and a 200-day simple moving average of $70.98.

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

Construction Partners Company 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.