Benjamin F. Edwards & Company Inc. Purchases 653 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Benjamin F. Edwards & Company Inc. raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 55.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,831 shares of the company’s stock after purchasing an additional 653 shares during the period. Benjamin F. Edwards & Company Inc.’s holdings in Construction Partners were worth $101,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Dimensional Fund Advisors LP lifted its holdings in shares of Construction Partners by 13.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 893,748 shares of the company’s stock valued at $38,897,000 after purchasing an additional 105,346 shares in the last quarter. Vanguard Group Inc. raised its holdings in Construction Partners by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 2,346,238 shares of the company’s stock worth $102,108,000 after buying an additional 55,752 shares during the period. Tyro Capital Management LLC bought a new position in Construction Partners in the fourth quarter valued at approximately $12,410,000. Wasatch Advisors LP boosted its holdings in shares of Construction Partners by 188.3% in the first quarter. Wasatch Advisors LP now owns 1,692,328 shares of the company’s stock valued at $95,024,000 after buying an additional 1,105,423 shares during the period. Finally, Westover Capital Advisors LLC bought a new stake in shares of Construction Partners during the second quarter worth $674,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $69.58 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.60 and a quick ratio of 1.30. The business has a 50-day moving average of $63.16 and a 200-day moving average of $58.01. The stock has a market capitalization of $3.67 billion, a price-to-earnings ratio of 59.47, a PEG ratio of 1.61 and a beta of 0.67. Construction Partners, Inc. has a fifty-two week low of $35.46 and a fifty-two week high of $76.73.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to analyst estimates of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The business’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.41 EPS. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.43 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $61.97, for a total value of $1,574,533.76. Following the completion of the transaction, the director now owns 102,592 shares of the company’s stock, valued at approximately $6,357,626.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 18.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ROAD. Raymond James boosted their price objective on shares of Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research report on Monday, August 12th. Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Finally, DA Davidson lifted their target price on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $59.67.

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.