Voya Financial Advisors Inc. Invests $203,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Voya Financial Advisors Inc. bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,919 shares of the company’s stock, valued at approximately $203,000.

Several other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares during the last quarter. KBC Group NV grew its stake in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after acquiring an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. increased its position in shares of Construction Partners by 55.4% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Construction Partners in the second quarter worth $116,000. Finally, Public Employees Retirement Association of Colorado bought a new position in Construction Partners during the second quarter valued at approximately $162,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of ROAD opened at $101.86 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The stock has a market cap of $5.69 billion, a PE ratio of 77.17, a P/E/G ratio of 1.21 and a beta of 0.70. The firm has a 50-day simple moving average of $85.01 and a two-hundred day simple moving average of $68.77. Construction Partners, Inc. has a 1-year low of $39.79 and a 1-year high of $103.69.

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

Insider Activity at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 18.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research report on Monday, August 12th. Robert W. Baird raised their target price 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. Raymond James lifted their price objective 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. Finally, DA Davidson upped their target price on Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average 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.