Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 25.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,747 shares of the company’s stock after selling 1,962 shares during the quarter. ProShare Advisors LLC’s holdings in Construction Partners were worth $317,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Stifel Financial Corp raised its holdings in shares of Construction Partners by 2.6% in the 4th quarter. Stifel Financial Corp now owns 130,348 shares of the company’s stock worth $5,673,000 after purchasing an additional 3,325 shares during the period. Tyro Capital Management LLC purchased a new position in Construction Partners in the fourth quarter valued at approximately $12,410,000. Virtu Financial LLC acquired a new position in Construction Partners during the fourth quarter valued at approximately $442,000. Vanguard Group Inc. grew its stake in Construction Partners by 2.4% during 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 during the period. Finally, Cannon Global Investment Management LLC acquired a new stake in shares of Construction Partners in the first quarter worth $460,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $67.44 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 1 year low of $35.79 and a 1 year high of $76.73. The firm’s 50-day simple moving average is $63.57 and its 200-day simple moving average is $58.41. The firm has a market cap of $3.55 billion, a PE ratio of 57.64, a price-to-earnings-growth ratio of 1.58 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data 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 return on equity of 13.34% and a net margin of 4.01%. The firm had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $503.57 million. During the same period last year, the business posted $0.41 earnings per share. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. Equities analysts forecast that Construction Partners, Inc. will post 1.43 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling at Construction Partners

In related news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was 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 of the company’s stock, valued at approximately $6,357,626.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 18.80% of the stock is currently owned by insiders.

Construction Partners Company 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.