Aubrey Capital Management Ltd Acquires New Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Aubrey Capital Management Ltd bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 63,200 shares of the company’s stock, valued at approximately $4,410,000. Construction Partners makes up about 1.7% of Aubrey Capital Management Ltd’s holdings, making the stock its 17th largest holding. Aubrey Capital Management Ltd owned about 0.12% of Construction Partners as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC raised its holdings 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 during the period. Arizona State Retirement System grew its position in Construction Partners by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock worth $677,000 after purchasing an additional 257 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Construction Partners by 7.1% during the 1st quarter. Ameritas Investment Partners Inc. now owns 4,279 shares of the company’s stock valued at $240,000 after purchasing an additional 285 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in shares of Construction Partners by 4.3% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 7,023 shares of the company’s stock valued at $394,000 after purchasing an additional 292 shares in the last quarter. Finally, KBC Group NV boosted 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 worth $99,000 after buying an additional 367 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Down 3.3 %

Shares of NASDAQ:ROAD opened at $91.37 on Thursday. The company’s fifty day moving average is $74.54 and its 200-day moving average is $63.68. 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 $39.79 and a 52 week high of $97.25. The company has a market capitalization of $4.82 billion, a PE ratio of 67.68, a P/E/G ratio of 1.18 and a beta of 0.65.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ROAD shares. Robert W. Baird increased their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James boosted 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. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Stifel Nicolaus lifted 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. Three research 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 stock. According to data from MarketBeat, Construction Partners currently has a consensus rating of “Moderate Buy” and an average price target of $69.00.

Insider Buying and Selling

In other news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now directly owns 102,592 shares of the company’s stock, valued at $6,357,626.24. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

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.