Geneva Capital Management LLC Decreases Position in Construction Partners, Inc. (NASDAQ:ROAD)

Geneva Capital Management LLC decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 0.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,140,563 shares of the company’s stock after selling 6,723 shares during the quarter. Construction Partners accounts for 2.6% of Geneva Capital Management LLC’s portfolio, making the stock its 5th largest position. Geneva Capital Management LLC owned about 5.96% of Construction Partners worth $136,677,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in ROAD. Charles Schwab Investment Management Inc. grew its holdings in Construction Partners by 0.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 442,466 shares of the company’s stock worth $19,256,000 after purchasing an additional 3,647 shares during the period. Lisanti Capital Growth LLC increased its holdings in Construction Partners by 3.8% in the 4th quarter. Lisanti Capital Growth LLC now owns 103,285 shares of the company’s stock valued at $4,495,000 after acquiring an additional 3,750 shares during the last quarter. Nkcfo LLC bought a new position in Construction Partners during the fourth quarter valued at approximately $631,000. Beck Bode LLC purchased a new stake in shares of Construction Partners during the 4th quarter worth approximately $292,000. Finally, Marco Investment Management LLC purchased a new stake in Construction Partners during the fourth quarter valued at $225,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Price Performance

Shares of ROAD traded up $1.09 during mid-day trading on Thursday, reaching $53.81. 671,583 shares of the company’s stock were exchanged, compared to its average volume of 361,468. Construction Partners, Inc. has a 52-week low of $27.33 and a 52-week high of $58.65. The company 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 company has a 50-day simple moving average of $53.15 and a two-hundred day simple moving average of $46.59. The company has a quick ratio of 1.39, a current ratio of 1.75 and a debt-to-equity ratio of 0.82.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Friday, February 9th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.13 by $0.06. The business had revenue of $396.51 million during the quarter, compared to analyst estimates of $393.62 million. Construction Partners had a net margin of 3.52% and a return on equity of 11.56%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the business earned $0.04 EPS. On average, sell-side analysts predict that Construction Partners, Inc. will post 1.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of recent analyst reports. Robert W. Baird cut Construction Partners from an “outperform” rating to a “neutral” rating and boosted their price objective for the company from $46.00 to $50.00 in a report on Monday, February 12th. Stifel Nicolaus increased their target price on Construction Partners from $51.00 to $57.00 and gave the company a “buy” rating in a research report on Monday, February 12th. Finally, Sidoti lowered Construction Partners from a “buy” rating to a “neutral” rating and set a $59.00 price target for the company. in a research report on Thursday, March 28th. Two analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.