Park Avenue Securities LLC Trims Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Park Avenue Securities LLC cut its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 35.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,279 shares of the company’s stock after selling 2,900 shares during the quarter. Park Avenue Securities LLC’s holdings in Construction Partners were worth $467,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ROAD. GAMMA Investing LLC increased its stake 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 last quarter. KBC Group NV grew its holdings in Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after acquiring an additional 367 shares in the last quarter. nVerses Capital LLC increased its position 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 worth $174,000 after purchasing an additional 400 shares during the last quarter. Benjamin Edwards Inc. lifted its position in shares of Construction Partners by 8.7% during the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock worth $518,000 after purchasing an additional 594 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its stake in Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after purchasing an additional 653 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ROAD. Robert W. Baird upped their price objective on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James decreased their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles E. Owens sold 46,596 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the sale, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,225 shares of company stock worth $13,904,358. Insiders own 18.80% of the company’s stock.

Construction Partners Stock Down 11.0 %

NASDAQ:ROAD opened at $82.58 on Friday. The firm has a market capitalization of $4.61 billion, a PE ratio of 62.56, a price-to-earnings-growth ratio of 1.15 and a beta of 0.75. Construction Partners, Inc. has a 52 week low of $41.75 and a 52 week high of $103.69. 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 stock has a 50 day moving average of $93.38 and a 200-day moving average of $76.92.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million for 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%. Construction Partners’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.59 earnings per share. Analysts predict that Construction Partners, Inc. will post 1.95 EPS for the current year.

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.