Royce & Associates LP Cuts Position in Construction Partners, Inc. (NASDAQ:ROAD)

Royce & Associates LP lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 1.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 279,597 shares of the company’s stock after selling 3,540 shares during the quarter. Royce & Associates LP’s holdings in Construction Partners were worth $19,516,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC boosted its stake in shares of Construction Partners by 24.4% in 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 last quarter. Arizona State Retirement System boosted its stake in shares of Construction Partners by 2.1% in the 2nd quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock worth $677,000 after buying an additional 257 shares during the last quarter. Ameritas Investment Partners Inc. lifted its stake in Construction Partners by 7.1% in the first 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 last quarter. Envestnet Portfolio Solutions Inc. lifted its stake in 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 during the last quarter. Finally, KBC Group NV lifted its stake in 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 during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Construction Partners stock opened at $88.52 on Friday. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $97.25. The business has a fifty day moving average price of $75.79 and a 200-day moving average price of $64.11. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The firm has a market capitalization of $4.67 billion, a P/E ratio of 65.57, a PEG ratio of 1.14 and a beta of 0.65.

Insider Transactions at Construction Partners

In other news, Director Mark R. Matteson sold 25,408 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now directly owns 102,592 shares of the company’s stock, valued at $6,357,626.24. This trade represents a 19.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 18.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on ROAD shares. DA Davidson upped their price objective on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. 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. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a research note on Monday, August 12th. Finally, 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 research note on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Construction Partners has an average rating of “Moderate Buy” and a consensus target price of $69.00.

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.