Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 29,000 shares of the company's stock, valued at approximately $1,601,000. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.05% of Construction Partners at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Covestor Ltd grew its holdings in Construction Partners by 17,700.0% in the 1st 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. Benjamin F. Edwards & Company Inc. raised its stake in Construction Partners by 244.4% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 1,178 shares of the company's stock worth $66,000 after purchasing an additional 836 shares during the period. nVerses Capital LLC acquired a new position in Construction Partners in the 2nd quarter valued at about $116,000. SG Americas Securities LLC purchased a new stake in shares of Construction Partners in the 1st quarter valued at approximately $139,000. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Construction Partners during the 2nd quarter worth approximately $162,000. Institutional investors and hedge funds own 94.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on ROAD shares. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a report on Monday, August 12th. DA Davidson boosted their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Finally, Raymond James increased their target price on shares of Construction Partners from $69.00 to $72.00 and gave the stock a "strong-buy" rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.60.
View Our Latest Analysis on Construction Partners
Insider Buying and Selling
In related news, Director Mark R. Matteson sold 25,408 shares of the firm's stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the transaction, the director now owns 102,592 shares in the company, valued at $6,357,626.24. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 18.80% of the stock is owned by company insiders.
Construction Partners Stock Up 2.0 %
ROAD traded up $1.41 during trading hours on Tuesday, hitting $70.56. 286,759 shares of the company's stock were exchanged, compared to its average volume of 356,297. The firm has a 50 day moving average of $64.00 and a 200 day moving average of $58.78. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 12-month low of $36.70 and a 12-month high of $76.73. The firm has a market cap of $3.72 billion, a P/E ratio of 59.10, a price-to-earnings-growth ratio of 1.23 and a beta of 0.67.
Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same period in the previous year, the company posted $0.41 earnings per share. The business's revenue for the quarter was up 22.7% on a year-over-year basis. Analysts predict that Construction Partners, Inc. will post 1.43 EPS for the current fiscal year.
About Construction Partners
(
Free Report)
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.
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