TimesSquare Capital Management LLC Sells 70,975 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

TimesSquare Capital Management LLC reduced its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 21.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 264,898 shares of the company's stock after selling 70,975 shares during the period. TimesSquare Capital Management LLC owned 0.50% of Construction Partners worth $18,490,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROAD. Covestor Ltd increased its position in shares of Construction Partners by 17,700.0% during the first quarter. Covestor Ltd now owns 534 shares of the company's stock valued at $30,000 after buying an additional 531 shares during the period. GAMMA Investing LLC increased its position in shares of Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company's stock worth $61,000 after purchasing an additional 171 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased 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 worth $101,000 after purchasing an additional 653 shares during the last quarter. nVerses Capital LLC bought a new position in shares of Construction Partners in the second quarter worth approximately $116,000. Finally, SG Americas Securities LLC bought a new position in shares of Construction Partners in the first quarter worth approximately $139,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Up 1.4 %

Shares of NASDAQ:ROAD traded up $1.31 during trading on Monday, reaching $95.77. 432,391 shares of the company traded hands, compared to its average volume of 360,013. The firm has a market capitalization of $5.05 billion, a price-to-earnings ratio of 70.94, a P/E/G ratio of 1.18 and a beta of 0.65. Construction Partners, Inc. has a 52-week low of $39.01 and a 52-week high of $96.46. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. The business's fifty day moving average is $73.19 and its 200-day moving average is $63.19.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The company had revenue of $517.80 million during the quarter, compared to analyst estimates of $503.57 million. During the same quarter last year, the firm posted $0.41 earnings per share. The firm's revenue was up 22.7% on a year-over-year basis. As a group, analysts forecast that Construction Partners, Inc. will post 1.33 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on ROAD. Raymond James upped 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. DA Davidson upped 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. Robert W. Baird upped their target price on Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their target price on Construction Partners from $61.00 to $67.00 and gave the stock a "buy" rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $69.00.

Insider Buying and Selling

In related 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 sale, the director now owns 102,592 shares of the company's stock, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 18.80% of the stock is currently owned by insiders.

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.