HMS Capital Management LLC Acquires New Shares in Construction Partners, Inc. (NASDAQ:ROAD)

HMS Capital Management LLC bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,781 shares of the company’s stock, valued at approximately $404,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. US Bancorp DE grew its stake in Construction Partners by 7.2% in the third 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 grew its stake in Construction Partners by 47.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. nVerses Capital LLC grew its stake in Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after purchasing an additional 400 shares during the last quarter. NBC Securities Inc. grew its stake in Construction Partners by 36.9% in the third quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after purchasing an additional 1,327 shares during the last quarter. Finally, Creative Planning grew its stake in shares of 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 acquiring an additional 1,311 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Buying and Selling

In related news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated 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 owns 102,592 shares of the company’s stock, valued at $6,357,626.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 18.80% of the company’s stock.

Wall Street Analyst Weigh In

ROAD has been the topic of a number of research analyst reports. DA Davidson boosted their price target on Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. 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 note on Monday, August 12th. Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus boosted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Trading Up 3.6 %

Construction Partners stock opened at $80.89 on Wednesday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. 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 $4.27 billion, a price-to-earnings ratio of 59.92, a price-to-earnings-growth ratio of 1.43 and a beta of 0.65. The stock has a 50-day moving average price of $70.93 and a 200 day moving average price of $62.00.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, August 9th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.05. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The firm had revenue of $517.80 million during the quarter, compared to the consensus estimate of $503.57 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company’s revenue was up 22.7% compared to the same quarter last year. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.33 EPS for the current 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.