Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Allworth Financial LP

Allworth Financial LP raised its position in Construction Partners, Inc. (NASDAQ:ROAD) by 15.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,228 shares of the company’s stock after buying an additional 160 shares during the quarter. Allworth Financial LP’s holdings in Construction Partners were worth $114,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the company. Byrne Asset Management LLC increased its stake in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after buying an additional 133 shares during the period. USA Financial Formulas acquired a new position in shares of Construction Partners during the 4th quarter worth $31,000. KBC Group NV grew its stake in shares of Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares during the period. Mather Group LLC. acquired a new position in shares of Construction Partners during the 4th quarter worth $33,000. Finally, Nisa Investment Advisors LLC grew its stake in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after purchasing an additional 433 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares of the company’s stock, valued at $14,619,954.96. This represents a 3.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now directly owns 203,404 shares of the company’s stock, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Price Performance

Shares of ROAD opened at $73.11 on Monday. The stock’s fifty day moving average is $86.01 and its 200-day moving average is $80.36. The firm has a market capitalization of $4.09 billion, a price-to-earnings ratio of 68.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. Construction Partners, Inc. has a one year low of $46.03 and a one year high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.59 earnings per share. Equities analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

ROAD has been the topic of a number of recent analyst reports. Raymond James lowered their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. DA Davidson reiterated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three 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. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

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.