Virtu Financial LLC Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Virtu Financial LLC acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 8,005 shares of the company’s stock, valued at approximately $559,000.

Other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC increased its stake in Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after buying an additional 171 shares during the period. Arizona State Retirement System grew its stake in shares of Construction Partners by 2.1% during the second quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after acquiring an additional 257 shares in the last quarter. KBC Group NV increased its position 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 acquiring an additional 367 shares during the last quarter. nVerses Capital LLC lifted its stake in shares of Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after acquiring an additional 400 shares in the last quarter. Finally, Benjamin Edwards Inc. boosted its holdings in Construction Partners by 8.7% in the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock valued at $518,000 after purchasing an additional 594 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $94.84 on Friday. The firm has a market cap of $5.30 billion, a PE ratio of 71.85, a price-to-earnings-growth ratio of 1.18 and a beta of 0.70. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $103.69. The firm’s 50-day simple moving average is $87.82 and its 200-day simple moving average is $70.11. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

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

Insiders Place Their Bets

In related news, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the sale, the director now owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of the stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the sale, the director now directly owns 130,291 shares in the company, valued at $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 125,225 shares of company stock valued at $12,593,083 over the last 90 days. 18.80% of the stock is owned by company insiders.

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.