Swiss National Bank Sells 10,200 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Swiss National Bank lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 10.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 89,200 shares of the company’s stock after selling 10,200 shares during the period. Swiss National Bank owned 0.17% of Construction Partners worth $2,403,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its holdings in Construction Partners by 40.4% in the third quarter. Public Employees Retirement System of Ohio now owns 1,102 shares of the company’s stock worth $29,000 after acquiring an additional 317 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in Construction Partners by 304.5% in the first quarter. Tower Research Capital LLC TRC now owns 1,169 shares of the company’s stock worth $31,000 after acquiring an additional 880 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Construction Partners in the first quarter worth approximately $36,000. Captrust Financial Advisors raised its stake in shares of Construction Partners by 37.1% in the second 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. Finally, Lazard Asset Management LLC purchased a new stake in shares of Construction Partners in the first quarter worth approximately $54,000. Institutional investors own 77.19% of the company’s stock.

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 2,500 shares of the stock in a transaction on Tuesday, June 20th. The stock was sold at an average price of $33.09, for a total transaction of $82,725.00. Following the completion of the transaction, the senior vice president now directly owns 138,121 shares of the company’s stock, valued at $4,570,423.89. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 23.54% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ROAD has been the subject of several analyst reports. Raymond James increased their price objective on Construction Partners from $36.00 to $38.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 3rd. Stifel Nicolaus increased their price objective on Construction Partners from $33.00 to $34.00 in a research note on Friday, July 14th. Finally, TheStreet raised Construction Partners from a “c+” rating to a “b” rating in a research note on Wednesday, August 2nd.

Construction Partners Stock Performance

Shares of ROAD opened at $33.50 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.47 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $1.77 billion, a price-to-earnings ratio of 56.78, a PEG ratio of 0.87 and a beta of 0.92. The stock has a 50 day moving average of $31.98 and a 200 day moving average of $29.39. Construction Partners, Inc. has a 12 month low of $24.12 and a 12 month high of $35.56.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.09. The company had revenue of $421.90 million during the quarter, compared to the consensus estimate of $430.77 million. Construction Partners had a return on equity of 6.75% and a net margin of 2.11%. Construction Partners’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business posted $0.23 earnings per share. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 0.84 earnings per share for the current year.

Construction Partners Profile

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.