Benjamin Edwards Inc. Decreases Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Benjamin Edwards Inc. trimmed its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 21.3% during the fourth quarter, Holdings Channel reports. The fund owned 4,952 shares of the company’s stock after selling 1,339 shares during the period. Benjamin Edwards Inc.’s holdings in Construction Partners were worth $216,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Comerica Bank grew its holdings in Construction Partners by 2,716.6% during the 3rd quarter. Comerica Bank now owns 344,814 shares of the company’s stock valued at $12,606,000 after buying an additional 332,572 shares in the last quarter. Vanguard Group Inc. raised its position in Construction Partners by 8.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,290,486 shares of the company’s stock worth $83,740,000 after purchasing an additional 181,017 shares during the period. New York State Common Retirement Fund lifted its stake in shares of Construction Partners by 1,050.7% in the 3rd quarter. New York State Common Retirement Fund now owns 190,160 shares of the company’s stock valued at $6,952,000 after acquiring an additional 173,635 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Construction Partners by 15.0% during the third quarter. American Century Companies Inc. now owns 1,316,081 shares of the company’s stock valued at $48,116,000 after purchasing an additional 172,109 shares during the period. Finally, Envestnet Asset Management Inc. increased its stake in shares of Construction Partners by 39.8% in the third quarter. Envestnet Asset Management Inc. now owns 421,356 shares of the company’s stock worth $15,405,000 after buying an additional 119,912 shares during the period. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded up $0.19 during midday trading on Friday, reaching $51.50. 339,159 shares of the company’s stock traded hands, compared to its average volume of 368,354. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.39 and a current ratio of 1.75. Construction Partners, Inc. has a one year low of $24.20 and a one year high of $58.65. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 47.69, a P/E/G ratio of 1.33 and a beta of 0.68. The stock has a 50 day moving average of $52.79 and a 200 day moving average of $46.25.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, February 9th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.62 million. During the same quarter in the prior year, the business earned $0.04 EPS. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Robert W. Baird cut shares of Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $50.00 in a research report on Monday, February 12th. Sidoti cut Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research report on Thursday, March 28th. Finally, Stifel Nicolaus boosted their target price on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Two investment 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.