Moody Aldrich Partners LLC Has $6.38 Million Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Moody Aldrich Partners LLC reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 20.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,369 shares of the company's stock after selling 23,708 shares during the period. Construction Partners comprises approximately 1.2% of Moody Aldrich Partners LLC's holdings, making the stock its 28th largest holding. Moody Aldrich Partners LLC owned about 0.17% of Construction Partners worth $6,378,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Wasatch Advisors LP increased its holdings in shares of Construction Partners by 188.3% in the 1st quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company's stock worth $95,024,000 after acquiring an additional 1,105,423 shares during the period. Clearbridge Investments LLC bought a new stake in shares of Construction Partners during the second quarter valued at approximately $20,360,000. TimesSquare Capital Management LLC bought a new stake in shares of Construction Partners during the first quarter valued at approximately $19,832,000. Geneva Capital Management LLC boosted its position in shares of Construction Partners by 8.5% during the first quarter. Geneva Capital Management LLC now owns 3,408,788 shares of the company's stock worth $191,403,000 after buying an additional 268,225 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company's stock worth $31,439,000 after buying an additional 137,572 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mark R. Matteson sold 25,408 shares of the company's stock in a transaction 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 completion of the sale, the director now directly owns 102,592 shares of the company's stock, valued at $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 available at the SEC website. Insiders own 18.80% of the company's stock.

Construction Partners Price Performance

NASDAQ ROAD traded down $2.71 on Thursday, reaching $79.06. The company's stock had a trading volume of 383,414 shares, compared to its average volume of 359,762. Construction Partners, Inc. has a twelve month low of $36.70 and a twelve month high of $86.00. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. The firm's 50 day moving average is $68.32 and its two-hundred day moving average is $60.53. The stock has a market cap of $4.17 billion, a PE ratio of 58.56, a PEG ratio of 1.50 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.05. The firm had revenue of $517.80 million during the quarter, compared to analysts' expectations of $503.57 million. Construction Partners had a net margin of 4.01% and a return on equity of 13.34%. The firm's revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period last year, the firm posted $0.41 earnings per share. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.43 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ROAD. Raymond James boosted their price target 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 increased their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a research report on Tuesday. Stifel Nicolaus raised their target price on shares of Construction Partners from $61.00 to $67.00 and gave the company a "buy" rating in a research note on Monday, August 12th. Finally, DA Davidson upped their price target on shares of Construction Partners from $50.00 to $55.00 and gave the stock a "neutral" rating in a research note 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. According to data from MarketBeat.com, Construction Partners currently has an average rating of "Moderate Buy" and an average price target of $69.00.

About Construction Partners

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.