Construction Partners, Inc. (NASDAQ:ROAD) Stock Position Trimmed by Mesirow Financial Investment Management Inc.

Mesirow Financial Investment Management Inc. decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 20.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,025 shares of the company’s stock after selling 1,309 shares during the period. Mesirow Financial Investment Management Inc.’s holdings in Construction Partners were worth $351,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ROAD. Conestoga Capital Advisors LLC increased its position 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 acquiring an additional 120,155 shares during the period. Vanguard Group Inc. increased its holdings in shares of Construction Partners by 3.0% during the first quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after purchasing an additional 69,223 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of Construction Partners by 2.6% during the second quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after purchasing an additional 24,828 shares during the period. American Century Companies Inc. raised its stake in shares of Construction Partners by 8.0% during the second quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after purchasing an additional 70,099 shares in the last quarter. Finally, Driehaus Capital Management LLC grew its position in Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

ROAD has been the subject of a number of research analyst reports. 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 research note on Tuesday, August 13th. Raymond James increased their price target on Construction Partners from $69.00 to $72.00 and gave the company a “strong-buy” rating in a research note on Monday, August 12th. Robert W. Baird boosted their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus upped their price objective on Construction Partners from $61.00 to $67.00 and gave the company a “buy” rating in a report on Monday, August 12th. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Activity at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of the business’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 approximately $6,357,626.24. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 18.80% of the stock is currently owned by corporate insiders.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $94.51 on Wednesday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.30 and a current ratio of 1.60. The company has a market capitalization of $4.99 billion, a PE ratio of 70.01, a price-to-earnings-growth ratio of 1.18 and a beta of 0.65. The stock has a fifty day moving average of $73.86 and a 200-day moving average of $63.49. Construction Partners, Inc. has a one year low of $39.01 and a one year high of $97.25.

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.