State Street Corp Purchases 26,189 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

State Street Corp lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,004,867 shares of the company's stock after acquiring an additional 26,189 shares during the period. State Street Corp owned approximately 1.90% of Construction Partners worth $70,140,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after buying an additional 171 shares during the last quarter. KBC Group NV raised its holdings 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 during the last quarter. Benjamin F. Edwards & Company Inc. lifted its position in shares of Construction Partners by 55.4% during 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. nVerses Capital LLC purchased a new position in Construction Partners during the second quarter worth about $116,000. Finally, Public Employees Retirement Association of Colorado bought a new stake in Construction Partners in the 2nd quarter worth about $162,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Price Performance

ROAD opened at $95.90 on Wednesday. Construction Partners, Inc. has a fifty-two week low of $39.79 and a fifty-two week high of $103.69. The firm has a 50-day moving average of $88.34 and a 200 day moving average of $70.44. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The firm has a market cap of $5.36 billion, a P/E ratio of 72.65, a PEG ratio of 1.15 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period in the prior year, the company earned $0.59 earnings per share. The firm's revenue was up 13.3% on a year-over-year basis. On average, research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total value of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares of the company's stock, valued at $14,619,954.96. This trade represents a 3.73 % 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. Also, Director Charles E. Owens sold 16,203 shares of the business's stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $98.22, for a total value of $1,591,458.66. Following the sale, the director now owns 102,610 shares in the company, valued at approximately $10,078,354.20. The trade was a 13.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 131,225 shares of company stock valued at $13,159,543 over the last ninety days. 18.80% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their target price 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. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Construction Partners presently has a consensus rating of "Moderate Buy" and a consensus price target of $69.00.

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.