Virtu Financial LLC Purchases New Position in Construction Partners, Inc. (NASDAQ:ROAD)

Virtu Financial LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,005 shares of the company's stock, valued at approximately $559,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ROAD. GAMMA Investing LLC boosted its stake in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after purchasing an additional 171 shares during the period. KBC Group NV raised its holdings in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after acquiring an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company's stock valued at $101,000 after acquiring an additional 653 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Construction Partners in the second quarter valued at about $116,000. Finally, Voya Financial Advisors Inc. bought a new position in Construction Partners in the third quarter worth about $203,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Construction Partners Stock Performance

Shares of Construction Partners stock traded down $1.12 during trading hours on Friday, hitting $94.84. 389,324 shares of the company were exchanged, compared to its average volume of 404,955. The business has a 50-day moving average of $87.82 and a 200-day moving average of $70.11. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $103.69. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 71.85, a P/E/G ratio of 1.15 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share 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 return on equity of 12.90% and a net margin of 3.78%. The business's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. As a group, analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling at Construction Partners

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the sale, the director now directly owns 17,000 shares in the company, valued at approximately $1,696,260. This represents a 42.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles E. Owens sold 46,596 shares of the company's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now directly owns 203,404 shares in the company, valued at approximately $20,610,927.32. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 125,225 shares of company stock valued at $12,593,083 in the last quarter. Corporate insiders own 18.80% of the company's stock.

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.