Construction Partners, Inc. (NASDAQ:ROAD) Stock Holdings Lowered by JPMorgan Chase & Co.

JPMorgan Chase & Co. reduced its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,171 shares of the company’s stock after selling 5,714 shares during the quarter. JPMorgan Chase & Co. owned 0.21% of Construction Partners worth $8,248,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC raised its holdings in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares during the period. KBC Group NV raised 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 valued at $99,000 after acquiring an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Construction Partners during the second quarter valued at approximately $162,000. Finally, nVerses Capital LLC raised its holdings in shares of Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after acquiring an additional 400 shares during the period. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

Shares of ROAD opened at $85.94 on Tuesday. The company’s 50 day moving average price is $93.45 and its 200 day moving average price is $75.02. Construction Partners, Inc. has a 52 week low of $40.85 and a 52 week high of $103.69. The company has a market capitalization of $4.80 billion, a PE ratio of 65.11, a PEG ratio of 1.15 and a beta of 0.75. 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 posted its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.59 earnings per share. Research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Ratings Changes

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

Insiders Place Their Bets

In related news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 139,225 shares of company stock valued at $13,904,358 over the last ninety days. Corporate insiders own 18.80% of the company’s stock.

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.