New York State Common Retirement Fund Sells 70,344 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

New York State Common Retirement Fund reduced its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 83.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,762 shares of the company's stock after selling 70,344 shares during the period. New York State Common Retirement Fund's holdings in Construction Partners were worth $989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc purchased a new stake in Construction Partners during the 1st quarter valued at $30,000. Johnson Financial Group Inc. purchased a new position in Construction Partners in the 4th quarter worth about $66,000. Golden State Wealth Management LLC lifted its stake in Construction Partners by 100.0% during the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock valued at $81,000 after acquiring an additional 563 shares during the period. Amalgamated Bank grew its stake in shares of Construction Partners by 8.8% in the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after acquiring an additional 129 shares during the period. Finally, TrinityPoint Wealth LLC purchased a new position in shares of Construction Partners during the fourth quarter valued at approximately $213,000. Institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James Financial cut their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

Construction Partners Price Performance

NASDAQ:ROAD traded up $2.08 during trading hours on Friday, hitting $105.44. 287,446 shares of the stock traded hands, compared to its average volume of 495,216. The company has a market cap of $5.91 billion, a price-to-earnings ratio of 90.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $114.74. The stock has a 50 day moving average price of $105.05 and a 200 day moving average price of $88.66. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.08 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 business had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. The business's revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the business earned ($0.02) earnings per share. Sell-side analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

About Construction Partners

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.