Glenmede Trust Co. NA Sells 5,439 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Glenmede Trust Co. NA decreased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 17.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,155 shares of the company's stock after selling 5,439 shares during the quarter. Glenmede Trust Co. NA's holdings in Construction Partners were worth $1,826,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC grew 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 acquiring an additional 171 shares in the last quarter. Arizona State Retirement System raised its stake in Construction Partners by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 12,270 shares of the company's stock valued at $677,000 after acquiring an additional 257 shares in the last quarter. KBC Group NV grew its position in Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after buying an additional 367 shares in the last quarter. nVerses Capital LLC increased its stake in shares of Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock valued at $174,000 after acquiring an additional 400 shares during the period. Finally, Benjamin F. Edwards & Company Inc. raised its position in 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 acquiring an additional 653 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. DA Davidson boosted their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. Raymond James raised their target price on Construction Partners from $69.00 to $72.00 and gave the stock a "strong-buy" rating in a research report on Monday, August 12th. Robert W. Baird lifted their price target on Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their target price on shares of 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $69.00.

Construction Partners Trading Down 1.4 %

Shares of Construction Partners stock traded down $1.47 on Monday, hitting $100.14. 393,054 shares of the company's stock traded hands, compared to its average volume of 364,720. The company has a fifty day moving average of $82.00 and a two-hundred day moving average of $67.37. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 76.98, a price-to-earnings-growth ratio of 1.21 and a beta of 0.65. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.30.

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