Geneva Capital Management LLC Sells 6,723 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Geneva Capital Management LLC trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 0.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,140,563 shares of the company’s stock after selling 6,723 shares during the period. Construction Partners comprises approximately 2.6% of Geneva Capital Management LLC’s investment portfolio, making the stock its 5th largest position. Geneva Capital Management LLC owned about 0.06% of Construction Partners worth $136,677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. NBC Securities Inc. acquired a new position in Construction Partners during the 3rd quarter worth $26,000. Operose Advisors LLC acquired a new stake in Construction Partners during the third quarter valued at approximately $38,000. Federated Hermes Inc. bought a new position in Construction Partners during the 4th quarter worth approximately $150,000. Park Avenue Securities LLC acquired a new position in shares of Construction Partners in the 3rd quarter worth approximately $203,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Construction Partners in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Construction Partners stock traded up $1.09 during midday trading on Thursday, reaching $53.81. 671,583 shares of the stock traded hands, compared to its average volume of 361,468. Construction Partners, Inc. has a fifty-two week low of $27.33 and a fifty-two week high of $58.65. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.82. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 48.82, a PEG ratio of 1.33 and a beta of 0.68. The firm has a fifty day moving average price of $53.15 and a two-hundred day moving average price of $46.59.

Construction Partners (NASDAQ:ROAD) last posted its earnings results on Friday, February 9th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.13 by $0.06. Construction Partners had a return on equity of 11.56% and a net margin of 3.52%. The firm had revenue of $396.51 million for the quarter, compared to analysts’ expectations of $393.62 million. During the same period last year, the firm earned $0.04 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. On average, equities research analysts forecast that Construction Partners, Inc. will post 1.34 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on ROAD. Sidoti downgraded shares of Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price objective for the company. in a report on Thursday, March 28th. Stifel Nicolaus raised their target price on shares of Construction Partners from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Monday, February 12th. Finally, Robert W. Baird lowered Construction Partners from an “outperform” rating to a “neutral” rating and upped their target price for the company from $46.00 to $50.00 in a report on Monday, February 12th. Two investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

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.