SG Americas Securities LLC Trims Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

SG Americas Securities LLC reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 89.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 1,287 shares of the company’s stock after selling 11,424 shares during the period. SG Americas Securities LLC’s holdings in Construction Partners were worth $114,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the business. GAMMA Investing LLC grew 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 worth $61,000 after buying an additional 171 shares during the last quarter. Creative Planning lifted its position in Construction Partners by 22.8% during the 3rd quarter. Creative Planning now owns 7,060 shares of the company’s stock worth $493,000 after acquiring an additional 1,311 shares during the period. NBC Securities Inc. grew its stake in shares of Construction Partners by 36.9% in the 3rd quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after purchasing an additional 1,327 shares during the last quarter. nVerses Capital LLC grew its stake in shares of Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after purchasing an additional 400 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after acquiring an additional 67,150 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $80.60 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average price is $88.85 and its 200 day moving average price is $79.32. Construction Partners, Inc. has a 52 week low of $45.22 and a 52 week high of $103.69. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 61.06, a PEG ratio of 1.25 and a beta of 0.74.

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 the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same period last year, the company earned $0.59 EPS. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James cut their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

Insider Activity at Construction Partners

In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated 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 owns 154,856 shares of the company’s stock, valued at approximately $14,619,954.96. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is owned by corporate insiders.

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.