MML Investors Services LLC Increases Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

MML Investors Services LLC lifted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,563 shares of the company’s stock after buying an additional 1,130 shares during the quarter. MML Investors Services LLC owned approximately 0.06% of Construction Partners worth $2,273,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ROAD. GAMMA Investing LLC boosted its stake in Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares in the last quarter. KBC Group NV boosted its position in shares of Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its stake in shares of Construction Partners by 55.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after buying an additional 653 shares during the last quarter. nVerses Capital LLC purchased a new stake in shares of Construction Partners in the 2nd quarter worth approximately $116,000. Finally, Voya Financial Advisors Inc. bought a new position in Construction Partners during the 3rd quarter valued at approximately $203,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $69.00.

Construction Partners Trading Down 1.2 %

NASDAQ:ROAD opened at $94.84 on Monday. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69. The stock has a market cap of $5.30 billion, a price-to-earnings ratio of 71.85, a PEG ratio of 1.15 and a beta of 0.70. The company’s 50 day moving average price is $87.82 and its 200-day moving average price is $70.19. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85.

Construction Partners (NASDAQ:ROAD) last issued its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the prior year, the business posted $0.59 earnings per share. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. On average, equities research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares in the company, valued at $1,696,260. This trade represents a 42.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 125,225 shares of company stock worth $12,593,083. 18.80% of the stock is owned by corporate insiders.

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.