Connor Clark & Lunn Investment Management Ltd. Cuts Position in Construction Partners, Inc. (NASDAQ:ROAD)

Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROADFree Report) by 12.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,264 shares of the company’s stock after selling 1,959 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Construction Partners were worth $996,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after buying an additional 171 shares in the last quarter. Arizona State Retirement System grew its position in shares of Construction Partners by 2.1% in the second quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after purchasing an additional 257 shares in the last quarter. KBC Group NV grew its position in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares in the last quarter. nVerses Capital LLC grew its position in shares of Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after purchasing an additional 400 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after purchasing an additional 653 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Up 1.6 %

NASDAQ:ROAD opened at $101.14 on Thursday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The stock’s fifty day moving average is $80.32 and its two-hundred day moving average is $66.41. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $102.57. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 75.24, a price-to-earnings-growth ratio of 1.24 and a beta of 0.65.

Construction Partners (NASDAQ:ROADGet Free Report) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a return on equity of 13.15% and a net margin of 3.78%. The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same quarter last year, the company earned $0.59 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts anticipate that Construction Partners, Inc. will post 1.91 EPS for the current year.

Analysts Set New Price Targets

ROAD has been the subject of a number of analyst reports. Robert W. Baird upped their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James upped their price objective on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a report on Monday, August 12th. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, DA Davidson upped their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Get Our Latest Analysis on Construction Partners

About Construction Partners

(Free Report)

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.

See Also

Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROADFree Report).

Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

Receive News & Ratings for Construction Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Construction Partners and related companies with MarketBeat.com's FREE daily email newsletter.