Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 15.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,751 shares of the company’s stock after selling 694 shares during the quarter. Marco Investment Management LLC’s holdings in Construction Partners were worth $262,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew 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 worth $61,000 after acquiring an additional 171 shares during the last quarter. KBC Group NV boosted its holdings in shares of Construction Partners by 35.0% during 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 during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in Construction Partners by 55.4% in the 2nd 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 purchased a new position in Construction Partners during the second quarter worth approximately $116,000. Finally, SG Americas Securities LLC acquired a new position in Construction Partners in the first quarter valued at $139,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ROAD. Raymond James raised their price target on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Stifel Nicolaus raised their target price on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a report on Monday, August 12th. Finally, DA Davidson increased their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report 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. According to MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Up 3.2 %

Shares of NASDAQ:ROAD opened at $99.98 on Monday. The firm has a 50 day simple moving average of $79.08 and a 200 day simple moving average of $65.77. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $100.70. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. The company has a market cap of $5.27 billion, a PE ratio of 75.74, a price-to-earnings-growth ratio of 1.22 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last announced 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). The firm had revenue of $538.16 million for 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 13.15%. Construction Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period last year, the firm earned $0.59 earnings per share. As a group, research analysts expect that Construction Partners, Inc. will post 1.91 earnings per share for the current year.

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.