Creative Planning Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

Creative Planning increased its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 22.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,060 shares of the company’s stock after acquiring an additional 1,311 shares during the period. Creative Planning’s holdings in Construction Partners were worth $493,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ROAD. Vanguard Group Inc. boosted its position in Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after acquiring an additional 69,223 shares in the last quarter. Ninepoint Partners LP purchased a new stake in Construction Partners during the second quarter valued at approximately $954,000. Engle Capital Management L.P. purchased a new stake in Construction Partners during the second quarter valued at approximately $5,742,000. Westover Capital Advisors LLC purchased a new stake in shares of Construction Partners in the second quarter worth approximately $674,000. Finally, GAMMA Investing LLC raised its holdings in shares of Construction Partners by 24.4% in 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 period. 94.83% of the stock is owned by institutional investors.

Construction Partners Trading Up 12.4 %

NASDAQ ROAD opened at $90.93 on Thursday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 67.36, a P/E/G ratio of 1.42 and a beta of 0.65. Construction Partners, Inc. has a 52-week low of $38.37 and a 52-week high of $91.65. The firm has a 50-day moving average price of $71.46 and a 200 day moving average price of $62.20. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.54 by $0.05. The company had revenue of $517.80 million during the quarter, compared to analysts’ expectations of $503.57 million. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted $0.41 earnings per share. Equities research analysts expect that Construction Partners, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. DA Davidson increased their price objective on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Raymond James increased their target price on 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 raised their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Stifel Nicolaus raised their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Three research 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Insiders Place Their Bets

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the completion of the transaction, the director now owns 102,592 shares in the company, valued at approximately $6,357,626.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.80% of the stock is owned by insiders.

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.