Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Wealth Alliance

Wealth Alliance lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 5.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,778 shares of the company’s stock after selling 294 shares during the quarter. Wealth Alliance’s holdings in Construction Partners were worth $423,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new stake in shares of Construction Partners in the fourth quarter worth $31,000. Mather Group LLC. acquired a new stake in shares of Construction Partners in the fourth quarter worth $33,000. Byrne Asset Management LLC increased its stake in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after acquiring an additional 133 shares during the period. Nisa Investment Advisors LLC increased its stake in shares of Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in Construction Partners during the fourth quarter valued at $50,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Stock Performance

ROAD opened at $73.11 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market cap of $4.09 billion, a price-to-earnings ratio of 68.33, a PEG ratio of 1.02 and a beta of 0.74. Construction Partners, Inc. has a 52-week low of $46.03 and a 52-week high of $103.69. The firm’s fifty day simple moving average is $86.01 and its two-hundred day simple moving average is $80.03.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data 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 company had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.59 earnings per share. Equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on ROAD shares. DA Davidson restated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. 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 report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

Insider Buying and Selling at Construction Partners

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