Russell Investments Group Ltd. Sells 39,165 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Russell Investments Group Ltd. trimmed its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 19.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 163,471 shares of the company’s stock after selling 39,165 shares during the period. Russell Investments Group Ltd.’s holdings in Construction Partners were worth $7,114,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in ROAD. Moody Aldrich Partners LLC bought a new stake in Construction Partners in the fourth quarter worth $4,282,000. Assenagon Asset Management S.A. purchased a new stake in Construction Partners during the 4th quarter valued at about $769,000. R.P. Boggs & Co. increased its stake in Construction Partners by 2.6% during the 3rd quarter. R.P. Boggs & Co. now owns 433,044 shares of the company’s stock valued at $15,832,000 after purchasing an additional 11,142 shares in the last quarter. New York State Common Retirement Fund increased its stake in Construction Partners by 1,050.7% during 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 purchasing an additional 173,635 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new position in Construction Partners in the third quarter worth about $648,000. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ROAD shares. Sidoti cut shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target on the stock. in a report on Thursday, March 28th. Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and lifted their target price for the stock from $46.00 to $50.00 in a report on Monday, February 12th. Finally, Stifel Nicolaus boosted their price target on Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Monday, February 12th. Two research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $52.00.

Construction Partners Stock Up 3.3 %

Shares of Construction Partners stock opened at $53.78 on Wednesday. Construction Partners, Inc. has a twelve month low of $27.22 and a twelve month high of $58.65. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average is $53.05 and its 200 day moving average is $46.54. The company has a market cap of $2.83 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 1.33 and a beta of 0.68.

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

Construction Partners 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.