Lindenwold Advisors INC Reduces Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Lindenwold Advisors INC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,784 shares of the company’s stock after selling 915 shares during the quarter. Lindenwold Advisors INC’s holdings in Construction Partners were worth $334,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Clearbridge Investments LLC purchased a new stake in Construction Partners in the second quarter valued at $20,360,000. Driehaus Capital Management LLC increased its position in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock worth $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Conestoga Capital Advisors LLC raised its holdings in Construction Partners by 3.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after buying an additional 120,155 shares during the period. Engle Capital Management L.P. acquired a new position in Construction Partners in the second quarter valued at about $5,742,000. Finally, American Century Companies Inc. boosted its stake in Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock worth $52,401,000 after buying an additional 70,099 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of ROAD stock opened at $90.10 on Tuesday. The firm has a 50 day moving average of $76.43 and a two-hundred day moving average of $64.56. The stock has a market capitalization of $4.75 billion, a PE ratio of 66.74, a P/E/G ratio of 1.11 and a beta of 0.65. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $97.25.

Insider Buying and Selling

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total transaction of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at $6,357,626.24. This represents a 19.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 18.80% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.