US Bancorp DE Has $716,000 Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

US Bancorp DE raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 7.2% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 10,260 shares of the company’s stock after buying an additional 686 shares during the period. US Bancorp DE’s holdings in Construction Partners were worth $716,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. nVerses Capital LLC lifted its holdings in Construction Partners by 19.0% in the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock valued at $174,000 after buying an additional 400 shares during the period. NBC Securities Inc. boosted its stake in Construction Partners by 36.9% in the third quarter. NBC Securities Inc. now owns 4,927 shares of the company’s stock valued at $343,000 after acquiring an additional 1,327 shares during the last quarter. Creative Planning grew its holdings in Construction Partners by 22.8% during the 3rd quarter. Creative Planning now owns 7,060 shares of the company’s stock worth $493,000 after acquiring an additional 1,311 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares during the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ROAD. Raymond James raised their target price on Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a report on Monday, August 12th. Robert W. Baird boosted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Stifel Nicolaus boosted their price target on shares of Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Trading Up 1.9 %

Shares of NASDAQ:ROAD opened at $94.46 on Friday. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 69.97, a PEG ratio of 1.66 and a beta of 0.65. Construction Partners, Inc. has a 12 month low of $38.97 and a 12 month high of $94.62. The company’s fifty day simple moving average is $72.59 and its 200 day simple moving average is $62.80. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, August 9th. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.05. The firm had revenue of $517.80 million for the quarter, compared to the consensus estimate of $503.57 million. Construction Partners had a return on equity of 13.34% and a net margin of 4.01%. The company’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter last year, the business posted $0.41 EPS. As a group, research analysts forecast that Construction Partners, Inc. will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction 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 $6,357,626.24. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 18.80% of the stock is owned by corporate insiders.

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.