Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC has reduced its holdings in Construction Partners, Inc. by 2.7%, now owning 457,811 shares, which represents a value of approximately $32.9 million.
• Several institutional investors, including Vanguard Group and Invesco Ltd., significantly increased their stakes in Construction Partners during the last quarter, with Vanguard boosting its position by 42.8%.
• Construction Partners reported earnings of $0.08 per share for the last quarter, exceeding analysts’ expectations and showing a year-over-year revenue increase of 53.9% to $571.65 million.

Natixis Advisors LLC trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 457,811 shares of the company's stock after selling 12,669 shares during the quarter. Natixis Advisors LLC owned about 0.82% of Construction Partners worth $32,903,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ROAD. LPL Financial LLC raised its position in Construction Partners by 42.5% during the fourth quarter. LPL Financial LLC now owns 39,006 shares of the company's stock valued at $3,450,000 after acquiring an additional 11,625 shares in the last quarter. Vanguard Group Inc. grew its holdings in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after purchasing an additional 1,046,617 shares during the period. Pictet Asset Management Holding SA grew its holdings in Construction Partners by 21.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,094 shares of the company's stock valued at $539,000 after purchasing an additional 1,063 shares during the period. Arrowstreet Capital Limited Partnership grew its holdings in Construction Partners by 123.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,604 shares of the company's stock valued at $673,000 after purchasing an additional 4,207 shares during the period. Finally, Franklin Resources Inc. grew its holdings in Construction Partners by 6,332.5% in the fourth quarter. Franklin Resources Inc. now owns 235,880 shares of the company's stock valued at $20,866,000 after purchasing an additional 232,213 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Trading Down 0.4%

ROAD traded down $0.36 on Monday, hitting $94.60. The company had a trading volume of 167,292 shares, compared to its average volume of 546,741. The firm has a market cap of $5.30 billion, a P/E ratio of 80.86, a PEG ratio of 1.18 and a beta of 1.00. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $114.74. The company's fifty day moving average price is $104.95 and its 200 day moving average price is $89.06. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The firm had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The company's quarterly revenue was up 53.9% compared to the same quarter last year. As a group, equities analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial lowered their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th.

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.