Bridges Investment Management Inc. Invests $350,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Bridges Investment Management Inc. bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,344 shares of the company’s stock, valued at approximately $350,000.

A number of other large investors have also added to or reduced their stakes in ROAD. Dimensional Fund Advisors LP boosted its holdings in shares of Construction Partners by 13.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock worth $38,897,000 after purchasing an additional 105,346 shares in the last quarter. Vanguard Group Inc. boosted its stake in Construction Partners by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company’s stock worth $102,108,000 after buying an additional 55,752 shares in the last quarter. Tyro Capital Management LLC bought a new position in Construction Partners during the fourth quarter valued at approximately $12,410,000. Wasatch Advisors LP grew its position in Construction Partners by 188.3% during the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after acquiring an additional 1,105,423 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new position in Construction Partners during the second quarter valued at approximately $674,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 4.9 %

Shares of Construction Partners stock opened at $72.53 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. Construction Partners, Inc. has a 52-week low of $34.21 and a 52-week high of $76.73. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 61.99, a P/E/G ratio of 1.52 and a beta of 0.67. The company’s 50 day moving average price is $61.98 and its 200-day moving average price is $57.38.

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, topping the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $503.57 million. During the same quarter last year, the business earned $0.41 earnings per share. The business’s revenue was up 22.7% on a year-over-year basis. Equities research analysts forecast that Construction Partners, Inc. will post 1.43 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on ROAD. Raymond James increased their price target on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. DA Davidson increased their price target on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus increased their price target on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research report on Monday, August 12th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $59.67.

Insider Activity at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on 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 sale, the director now owns 102,592 shares in the company, valued at $6,357,626.24. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 18.80% of the stock is currently owned by company 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.