Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 12.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,527 shares of the company's stock after selling 9,473 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.13% of Construction Partners worth $4,713,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Conestoga Capital Advisors LLC grew its stake in Construction Partners by 3.0% during the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock worth $228,305,000 after buying an additional 120,155 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Construction Partners by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company's stock valued at $53,687,000 after acquiring an additional 24,828 shares during the period. American Century Companies Inc. grew its position in shares of Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company's stock worth $52,401,000 after acquiring an additional 70,099 shares during the last quarter. Driehaus Capital Management LLC increased its stake in Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company's stock valued at $31,439,000 after purchasing an additional 137,572 shares during the period. Finally, Hood River Capital Management LLC grew its holdings in shares of Construction Partners by 16.1% during the second quarter. Hood River Capital Management LLC now owns 476,021 shares of the company's stock worth $26,281,000 after buying an additional 66,021 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insider Activity at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the business's stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares of the company's stock, valued at approximately $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the sale, the director now directly owns 17,000 shares of the company's stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 125,225 shares of company stock valued at $12,593,083. Company insiders own 18.80% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird lifted their target price on Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Construction Partners currently has an average rating of "Moderate Buy" and a consensus price target of $69.00.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded down $1.65 during midday trading on Thursday, hitting $95.96. The company had a trading volume of 329,805 shares, compared to its average volume of 364,917. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 72.70, a price-to-earnings-growth ratio of 1.22 and a beta of 0.70. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.69. The business has a 50-day simple moving average of $87.29 and a two-hundred day simple moving average of $69.82. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. Construction Partners's revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.59 earnings per share. Equities research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.