Swiss National Bank Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

Swiss National Bank grew its position in Construction Partners, Inc. (NASDAQ:ROAD – Get Rating) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,400 shares of the company’s stock after acquiring an additional 1,700 shares during the period. Swiss National Bank owned about 0.19% of Construction Partners worth $2,653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Comerica Bank boosted its holdings in shares of Construction Partners by 5.3% in the fourth quarter. Comerica Bank now owns 410,688 shares of the company’s stock valued at $10,846,000 after acquiring an additional 20,720 shares in the last quarter. Keybank National Association OH acquired a new stake in shares of Construction Partners in the fourth quarter valued at about $264,000. Versor Investments LP acquired a new stake in shares of Construction Partners in the fourth quarter valued at about $214,000. Envestnet Asset Management Inc. lifted its stake in shares of Construction Partners by 4.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 276,388 shares of the company’s stock valued at $7,377,000 after purchasing an additional 11,980 shares during the period. Finally, Geneva Capital Management LLC lifted its stake in shares of Construction Partners by 10.5% in the fourth quarter. Geneva Capital Management LLC now owns 2,671,078 shares of the company’s stock valued at $71,291,000 after purchasing an additional 253,139 shares during the period. Hedge funds and other institutional investors own 75.88% of the company’s stock.

Construction Partners Price Performance

Construction Partners stock opened at $29.67 on Wednesday. Construction Partners, Inc. has a 1 year low of $18.89 and a 1 year high of $32.98. The firm has a 50 day moving average price of $26.59 and a 200 day moving average price of $27.35. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 72.37, a PEG ratio of 1.15 and a beta of 0.91. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.42 and a current ratio of 1.80.

Construction Partners (NASDAQ:ROAD – Get Rating) last released its earnings results on Friday, May 5th. The company reported ($0.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.07. Construction Partners had a net margin of 1.51% and a return on equity of 4.83%. The firm had revenue of $324.90 million during the quarter, compared to the consensus estimate of $282.10 million. During the same period in the previous year, the firm earned ($0.18) earnings per share. Construction Partners’s revenue was up 33.5% compared to the same quarter last year. Sell-side analysts predict that Construction Partners, Inc. will post 0.7 earnings per share for the current year.

Insider Activity at Construction Partners

In related news, Director Stefan L. Shaffer sold 13,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $27.73, for a total value of $360,490.00. Following the completion of the sale, the director now directly owns 34,495 shares in the company, valued at $956,546.35. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 23.54% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ROAD shares. DA Davidson restated a “neutral” rating on shares of Construction Partners in a research report on Monday, February 13th. TheStreet lowered shares of Construction Partners from a “b-” rating to a “c+” rating in a research report on Wednesday, March 15th. Finally, Raymond James cut their price objective on shares of Construction Partners from $37.00 to $36.00 and set a “strong-buy” rating for the company in a research report on Tuesday, February 14th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $32.25.

Construction Partners Company Profile

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Construction Partners, Inc is a civil infrastructure company, which engages in construction and maintenance of roadways and highways. The firm is also involved in the provision of products and services to both public and private infrastructure projects, with an emphasis on highways, roads, bridges, airports, and commercial and residential developments.