Verus Capital Partners LLC Sells 671 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Verus Capital Partners LLC lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 13.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,499 shares of the company’s stock after selling 671 shares during the period. Verus Capital Partners LLC’s holdings in Construction Partners were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ROAD. Conestoga Capital Advisors LLC increased its position in shares of Construction Partners by 3.0% during the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock worth $228,305,000 after acquiring an additional 120,155 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Construction Partners by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after purchasing an additional 69,223 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Construction Partners by 2.6% in the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after purchasing an additional 24,828 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after buying an additional 70,099 shares during the period. Finally, Driehaus Capital Management LLC grew its holdings in shares of Construction Partners by 31.9% during the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after buying an additional 137,572 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction on 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 transaction, the director now directly owns 102,592 shares in the company, valued at $6,357,626.24. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.80% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $91.37 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $4.82 billion, a P/E ratio of 67.68, a P/E/G ratio of 1.18 and a beta of 0.65. Construction Partners, Inc. has a 12 month low of $39.79 and a 12 month high of $97.25. The stock has a 50 day moving average of $74.54 and a 200-day moving average of $63.68.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ROAD shares. DA Davidson increased their price objective on shares of Construction Partners from $50.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird boosted their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus increased their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Finally, Raymond James upped their price target on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

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.