Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Truist Financial Corp

Truist Financial Corp increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROADGet Rating) by 5.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 59,749 shares of the company’s stock after purchasing an additional 3,221 shares during the period. Truist Financial Corp owned 0.11% of Construction Partners worth $1,567,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ROAD. Quantbot Technologies LP acquired a new position in shares of Construction Partners during the 1st quarter worth approximately $36,000. Captrust Financial Advisors raised its position in shares of Construction Partners by 37.1% during the 2nd quarter. Captrust Financial Advisors now owns 2,223 shares of the company’s stock worth $47,000 after purchasing an additional 602 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Construction Partners during the 1st quarter worth approximately $54,000. Ameritas Investment Partners Inc. raised its position in shares of Construction Partners by 37.7% during the 1st quarter. Ameritas Investment Partners Inc. now owns 3,089 shares of the company’s stock worth $81,000 after purchasing an additional 845 shares during the last quarter. Finally, Amalgamated Bank acquired a new position in shares of Construction Partners during the 1st quarter worth approximately $158,000. 75.88% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Down 4.5 %

ROAD stock opened at $26.41 on Wednesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of 64.41, a PEG ratio of 1.17 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.52 and a current ratio of 1.84. Construction Partners, Inc. has a one year low of $18.89 and a one year high of $32.98. The company has a 50 day moving average price of $27.90 and a two-hundred day moving average price of $27.41.

Construction Partners (NASDAQ:ROADGet Rating) last announced its quarterly earnings data on Tuesday, November 22nd. The company reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.02. Construction Partners had a net margin of 1.64% and a return on equity of 4.97%. The company had revenue of $393.05 million during the quarter, compared to analysts’ expectations of $363.09 million. As a group, sell-side analysts expect that Construction Partners, Inc. will post 0.6 EPS for the current year.

Insider Activity

In other news, SVP John L. Harper sold 11,000 shares of the business’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $27.76, for a total transaction of $305,360.00. Following the completion of the sale, the senior vice president now directly owns 211,941 shares of the company’s stock, valued at approximately $5,883,482.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP John L. Harper sold 11,000 shares of the company’s stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $27.76, for a total transaction of $305,360.00. Following the completion of the sale, the senior vice president now directly owns 211,941 shares of the company’s stock, valued at approximately $5,883,482.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John L. Harper sold 46,320 shares of the company’s stock in a transaction on Monday, December 19th. The stock was sold at an average price of $26.31, for a total transaction of $1,218,679.20. Following the sale, the senior vice president now directly owns 140,621 shares of the company’s stock, valued at $3,699,738.51. The disclosure for this sale can be found here. Insiders sold 88,820 shares of company stock valued at $2,420,529 in the last ninety days. Company insiders own 24.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on ROAD shares. Stifel Nicolaus lifted their target price on shares of Construction Partners from $32.00 to $33.00 and gave the stock a “buy” rating in a research note on Monday, December 19th. Raymond James lifted their target price on shares of Construction Partners from $35.00 to $37.00 and gave the stock a “strong-buy” rating in a research note on Monday, November 21st. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $32.50.

Construction Partners Profile

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Construction Partners, Inc, a civil infrastructure company, engages in the construction and maintenance of roadways across Alabama, Florida, Georgia, North Carolina, and South Carolina. The company, through its subsidiaries, provides various products and services to public and private infrastructure projects, with a focus on highways, roads, bridges, airports, and commercial and residential developments.

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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