Loomis Sayles & Co. L P Trims Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Loomis Sayles & Co. L P reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 747,412 shares of the company’s stock after selling 16,960 shares during the period. Loomis Sayles & Co. L P owned 1.42% of Construction Partners worth $52,169,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ROAD. Vanguard Group Inc. lifted its stake in Construction Partners by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock worth $135,628,000 after purchasing an additional 69,223 shares in the last quarter. American International Group Inc. raised its holdings in Construction Partners by 5.8% during the 1st quarter. American International Group Inc. now owns 21,145 shares of the company’s stock valued at $1,187,000 after buying an additional 1,161 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Construction Partners by 8.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 27,774 shares of the company’s stock worth $1,560,000 after buying an additional 2,203 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Construction Partners by 14,321.4% during the first quarter. Public Employees Retirement System of Ohio now owns 64,031 shares of the company’s stock worth $3,595,000 after buying an additional 63,587 shares during the period. Finally, Cetera Advisors LLC purchased a new position in Construction Partners during the first quarter worth $254,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Construction Partners Price Performance

NASDAQ ROAD opened at $101.28 on Tuesday. The company has a market cap of $5.34 billion, a PE ratio of 76.73, a P/E/G ratio of 1.22 and a beta of 0.65. The firm’s 50 day moving average price is $79.76 and its 200-day moving average price is $66.10. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. Construction Partners, Inc. has a 52-week low of $39.79 and a 52-week high of $102.57.

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