Nisa Investment Advisors LLC Raises Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Nisa Investment Advisors LLC boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 400.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 541 shares of the company’s stock after buying an additional 433 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Construction Partners were worth $48,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ROAD. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the fourth quarter worth $632,000. Segall Bryant & Hamill LLC purchased a new stake in Construction Partners during the 3rd quarter worth about $10,377,000. Allspring Global Investments Holdings LLC raised its stake in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Intech Investment Management LLC purchased a new position in Construction Partners in the 3rd quarter valued at about $778,000. Finally, Artemis Investment Management LLP purchased a new position in Construction Partners in the 4th quarter valued at about $18,893,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

ROAD opened at $80.40 on Friday. Construction Partners, Inc. has a 1 year low of $44.70 and a 1 year high of $103.69. The company’s 50 day simple moving average is $91.84 and its 200 day simple moving average is $77.97. The stock has a market capitalization of $4.49 billion, a PE ratio of 60.91, a P/E/G ratio of 0.98 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 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 for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.95 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Robert W. Baird boosted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday. Finally, Raymond James reduced their price target on 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. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $83.40.

Insider Buying and Selling at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at $1,853,836.54. The trade was a 11.49 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $94.41, for a total value of $566,460.00. Following the sale, the senior vice president now owns 154,856 shares of the company’s stock, valued at $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 139,225 shares of company stock valued at $13,904,358. Company insiders own 18.80% of the company’s stock.

Construction Partners Company 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.