Asset Management One Co. Ltd. Reduces Position in Construction Partners, Inc. (NASDAQ:ROAD)

Asset Management One Co. Ltd. decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 5.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,893 shares of the company’s stock after selling 4,130 shares during the quarter. Asset Management One Co. Ltd. owned about 0.12% of Construction Partners worth $5,921,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ROAD. Creative Planning grew its holdings in shares of Construction Partners by 22.8% in the third quarter. Creative Planning now owns 7,060 shares of the company’s stock valued at $493,000 after purchasing an additional 1,311 shares during the period. Allspring Global Investments Holdings LLC lifted its position in Construction Partners by 47.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after buying an additional 67,150 shares during the last quarter. US Bancorp DE lifted its position in shares of Construction Partners by 7.2% during the third quarter. US Bancorp DE now owns 10,260 shares of the company’s stock worth $716,000 after purchasing an additional 686 shares in the last quarter. HMS Capital Management LLC acquired a new stake in shares of Construction Partners during the third quarter worth about $404,000. Finally, Principal Financial Group Inc. raised its holdings in Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock valued at $2,807,000 after acquiring an additional 1,596 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $78.57 on Wednesday. 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 stock has a fifty day moving average price of $87.19 and a 200 day moving average price of $79.93. Construction Partners, Inc. has a 1-year low of $45.26 and a 1-year high of $103.69. The company has a market cap of $4.39 billion, a PE ratio of 59.52, a P/E/G ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period last year, the business posted $0.59 EPS. Construction Partners’s revenue was up 13.3% compared to the same quarter last year. Sell-side analysts forecast that Construction Partners, Inc. will post 1.95 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ROAD. Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. DA Davidson reiterated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James dropped 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. Three equities 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. According to MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 5,489 shares of Construction Partners stock in a transaction 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 $1,597,464.96. The trade was a 23.99 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,225 shares of company stock valued at $13,904,358 in the last 90 days. 16.36% of the stock is currently owned by insiders.

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.