Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Geneva Capital Management LLC

Geneva Capital Management LLC reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 22.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,458,288 shares of the company’s stock after selling 726,429 shares during the period. Construction Partners accounts for about 3.8% of Geneva Capital Management LLC’s holdings, making the stock its biggest position. Geneva Capital Management LLC owned about 4.40% of Construction Partners worth $217,460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. USA Financial Formulas purchased a new stake in Construction Partners in the 4th quarter worth approximately $31,000. Mather Group LLC. purchased a new stake in Construction Partners in the 4th quarter worth approximately $33,000. Byrne Asset Management LLC grew its stake in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after acquiring an additional 133 shares during the period. Nisa Investment Advisors LLC grew its stake in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Construction Partners in the 4th quarter worth approximately $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Up 2.0 %

Shares of NASDAQ ROAD opened at $68.95 on Thursday. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. The firm has a fifty day moving average of $82.95 and a 200-day moving average of $80.85. The stock has a market capitalization of $3.85 billion, a PE ratio of 64.44, a P/E/G ratio of 0.99 and a beta of 0.79. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Analyst Upgrades and Downgrades

ROAD has been the subject of several recent analyst reports. Raymond James lowered their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $85.40.

Insider Activity at Construction Partners

In related news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. The trade was a 27.61 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,629 shares of company stock worth $9,182,785. 16.36% of the stock is currently owned by corporate insiders.

About Construction Partners

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.