Marshall Wace LLP Decreases Stock Position in Construction Partners Inc (NASDAQ:ROAD)

Marshall Wace LLP lessened its stake in Construction Partners Inc (NASDAQ:ROAD) by 43.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,107 shares of the company’s stock after selling 75,312 shares during the period. Marshall Wace LLP owned 0.19% of Construction Partners worth $1,265,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in Construction Partners in the 4th quarter valued at about $100,000. Bailard Inc. bought a new position in shares of Construction Partners during the 1st quarter valued at about $175,000. Conestoga Capital Advisors LLC bought a new position in shares of Construction Partners during the 1st quarter valued at about $336,000. Two Sigma Advisers LP boosted its position in shares of Construction Partners by 20.1% during the 4th quarter. Two Sigma Advisers LP now owns 42,400 shares of the company’s stock valued at $374,000 after purchasing an additional 7,100 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Construction Partners by 103.1% during the 4th quarter. BlackRock Inc. now owns 50,888 shares of the company’s stock valued at $449,000 after purchasing an additional 25,838 shares in the last quarter. Hedge funds and other institutional investors own 21.49% of the company’s stock.

Several equities analysts have recently weighed in on ROAD shares. Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a research report on Wednesday, May 15th. ValuEngine lowered shares of Xylem from a “buy” rating to a “hold” rating in a research note on Tuesday, May 14th. Finally, Imperial Capital reaffirmed an “outperform” rating and set a $55.00 price objective (up from $52.00) on shares of Mimecast in a research note on Tuesday, May 14th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $14.88.

Shares of NASDAQ ROAD traded down $0.39 during mid-day trading on Thursday, reaching $13.72. The company had a trading volume of 94,162 shares, compared to its average volume of 101,755. The stock has a market capitalization of $719.71 million, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.75 and a beta of 1.96. The business has a fifty day simple moving average of $14.00. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.13. Construction Partners Inc has a 12-month low of $7.70 and a 12-month high of $15.52.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, May 9th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.05 by $0.03. The company had revenue of $164.30 million for the quarter, compared to the consensus estimate of $145.80 million. Construction Partners had a return on equity of 12.67% and a net margin of 5.20%. The company’s revenue for the quarter was up 38.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.27 earnings per share. Research analysts expect that Construction Partners Inc will post 0.83 earnings per share for the current year.

About Construction Partners

Construction Partners, Inc, an infrastructure and road construction company, provides construction products and services to public and private sectors. It offers construction of highways, roads, bridges, airports, and commercial and residential sites. The company provides a range of sitework construction services, including site development, paving, and utility and drainage systems construction, as well as supplies hot mix asphalt required for the projects.

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Institutional Ownership by Quarter for Construction Partners (NASDAQ:ROAD)

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