Conestoga Capital Advisors LLC Trims Position in Construction Partners, Inc. (NASDAQ:ROAD)

Conestoga Capital Advisors LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,528,962 shares of the company's stock after selling 606,240 shares during the period. Construction Partners accounts for about 3.3% of Conestoga Capital Advisors LLC's portfolio, making the stock its 6th largest holding. Conestoga Capital Advisors LLC owned approximately 6.69% of Construction Partners worth $246,322,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. US Bancorp DE lifted its stake in shares of Construction Partners by 7.2% in the 3rd quarter. US Bancorp DE now owns 10,260 shares of the company's stock valued at $716,000 after purchasing an additional 686 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock worth $14,478,000 after buying an additional 67,150 shares during the period. nVerses Capital LLC increased its position 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 last quarter. NBC Securities Inc. boosted its position in shares of Construction Partners by 36.9% during the 3rd quarter. NBC Securities Inc. now owns 4,927 shares of the company's stock worth $343,000 after purchasing an additional 1,327 shares during the period. Finally, Creative Planning lifted its stake in Construction Partners by 22.8% during the third quarter. Creative Planning now owns 7,060 shares of the company's stock worth $493,000 after purchasing an additional 1,311 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction of $1,574,533.76. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.80% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ROAD has been the subject of several recent research reports. Stifel Nicolaus raised their price objective 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. Robert W. Baird raised their price target on Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Raymond James raised their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the stock a "strong-buy" rating in a report on Monday, August 12th. Finally, DA Davidson upped their target price on Construction Partners from $50.00 to $55.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Construction Partners Price Performance

Shares of Construction Partners stock traded up $0.02 on Friday, hitting $78.75. The company's stock had a trading volume of 387,751 shares, compared to its average volume of 358,314. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. The firm has a fifty day moving average price of $70.36 and a 200-day moving average price of $61.48. Construction Partners, Inc. has a 52-week low of $38.37 and a 52-week high of $86.00. The company has a market capitalization of $4.15 billion, a P/E ratio of 58.33, a price-to-earnings-growth ratio of 1.46 and a beta of 0.67.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The company had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. Construction Partners's revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.41 earnings per share. On average, equities research analysts expect that Construction Partners, Inc. will post 1.33 earnings per share for the current fiscal year.

Construction Partners Company 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.