Geneva Capital Management LLC Reduces Position in Construction Partners, Inc. (NASDAQ:ROAD)

Geneva Capital Management LLC decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 4.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,184,717 shares of the company’s stock after selling 141,166 shares during the period. Construction Partners accounts for about 3.7% of Geneva Capital Management LLC’s investment portfolio, making the stock its largest holding. Geneva Capital Management LLC owned 6.04% of Construction Partners worth $222,293,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its holdings in shares of Construction Partners by 17,700.0% in the first quarter. Covestor Ltd now owns 534 shares of the company’s stock valued at $30,000 after buying an additional 531 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its holdings 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 buying an additional 653 shares in the last quarter. nVerses Capital LLC bought a new position in shares of Construction Partners in the second quarter valued at $116,000. Finally, SG Americas Securities LLC bought a new position in shares of Construction Partners in the first quarter valued at $139,000. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Raymond James lifted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus lifted their price objective on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Robert W. Baird lifted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson lifted their price objective 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. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity

In related news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were 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 in the company, valued at approximately $6,357,626.24. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 18.80% of the stock is currently owned by corporate insiders.

Construction Partners Stock Down 0.8 %

Shares of Construction Partners stock traded down $0.77 on Tuesday, hitting $95.00. 83,931 shares of the company traded hands, compared to its average volume of 358,757. The company has a 50-day moving average price of $73.19 and a 200 day moving average price of $63.19. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 12-month low of $39.01 and a 12-month high of $97.25. The company has a market cap of $5.01 billion, a PE ratio of 70.94, a PEG ratio of 1.18 and a beta of 0.65.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.54 by $0.05. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The business had revenue of $517.80 million for the quarter, compared to analysts’ expectations of $503.57 million. During the same period in the previous year, the company posted $0.41 EPS. Construction Partners’s revenue was up 22.7% on a year-over-year basis. Sell-side analysts predict that Construction Partners, Inc. will post 1.33 earnings per share 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.