Sanctuary Advisors LLC Makes New $288,000 Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Sanctuary Advisors LLC purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,122 shares of the company’s stock, valued at approximately $288,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its position in Construction Partners by 24.4% during the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after purchasing an additional 171 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Construction Partners by 2.1% during the second quarter. Arizona State Retirement System now owns 12,270 shares of the company’s stock valued at $677,000 after buying an additional 257 shares during the last quarter. KBC Group NV increased its position in shares of Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after acquiring an additional 367 shares in the last quarter. nVerses Capital LLC increased its holdings in shares of Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after purchasing an additional 400 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Construction Partners by 8.7% in the third quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock worth $518,000 after purchasing an additional 594 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Stock Performance

Shares of ROAD opened at $89.86 on Friday. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The business has a fifty day moving average of $91.60 and a 200 day moving average of $72.47. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The firm has a market capitalization of $5.02 billion, a P/E ratio of 68.08, a PEG ratio of 1.15 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company’s revenue for the quarter 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. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insiders Place Their Bets

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the sale, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,225 shares of company stock worth $13,904,358. Company insiders own 18.80% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Robert W. Baird upped their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $69.00.

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.