Marco Investment Management LLC Has $262,000 Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Marco Investment Management LLC reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 15.6% in the 3rd quarter, Holdings Channel reports. The firm owned 3,751 shares of the company’s stock after selling 694 shares during the period. Marco Investment Management LLC’s holdings in Construction Partners were worth $262,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in the stock. Clearbridge Investments LLC bought a new stake in Construction Partners during the second quarter valued at about $20,360,000. Segall Bryant & Hamill LLC bought a new stake in Construction Partners during the 3rd quarter valued at approximately $10,377,000. Driehaus Capital Management LLC grew its holdings in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC grew its holdings in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after buying an additional 120,155 shares during the last quarter. Finally, Engle Capital Management L.P. bought a new position in Construction Partners in the 2nd quarter worth approximately $5,742,000. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

Shares of NASDAQ ROAD opened at $99.98 on Monday. The firm has a market capitalization of $5.27 billion, a price-to-earnings ratio of 75.74, a PEG ratio of 1.22 and a beta of 0.65. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $100.70. The business has a fifty day simple moving average of $79.08 and a 200 day simple moving average of $65.77. The company has a current ratio of 1.60, a quick ratio of 1.30 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 13.15%. The company’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 EPS. Sell-side analysts expect that Construction Partners, Inc. will post 1.91 EPS for the current year.

Analysts Set New Price Targets

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

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.