Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 256,830 shares of the company’s stock after selling 8,068 shares during the period. TimesSquare Capital Management LLC’s holdings in Construction Partners were worth $22,719,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Peregrine Capital Management LLC purchased a new stake in Construction Partners during the fourth quarter worth approximately $8,172,000. Allworth Financial LP lifted its stake in Construction Partners by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after purchasing an additional 160 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in Construction Partners during the fourth quarter worth approximately $118,000. Rhumbline Advisers lifted its stake in Construction Partners by 0.8% during the fourth quarter. Rhumbline Advisers now owns 59,604 shares of the company’s stock worth $5,273,000 after purchasing an additional 496 shares during the last quarter. Finally, Legato Capital Management LLC lifted its stake in Construction Partners by 40.0% during the fourth quarter. Legato Capital Management LLC now owns 19,670 shares of the company’s stock worth $1,740,000 after purchasing an additional 5,620 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the sale, the chief accounting officer now owns 19,339 shares in the company, valued at $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now owns 203,404 shares of the company’s stock, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,225 shares of company stock worth $13,904,358 over the last 90 days. 16.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Robert W. Baird boosted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. 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. According to data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $79.41 on Thursday. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a twelve month low of $45.26 and a twelve month high of $103.69. The stock has a 50 day moving average of $86.83 and a two-hundred day moving average of $79.93. The stock has a market cap of $4.44 billion, a P/E ratio of 74.22, a P/E/G ratio of 1.00 and a beta of 0.74.

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

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.