Corton Capital Inc. Acquires New Shares in Construction Partners, Inc. (NASDAQ:ROAD)

Corton Capital Inc. purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,010 shares of the company's stock, valued at approximately $266,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. USA Financial Formulas purchased a new stake in Construction Partners during the fourth quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in Construction Partners during the fourth quarter worth approximately $33,000. Byrne Asset Management LLC lifted its position in shares of Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after buying an additional 133 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Construction Partners in the 4th quarter valued at $50,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded up $3.28 on Friday, reaching $95.75. The company's stock had a trading volume of 549,649 shares, compared to its average volume of 441,645. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 52-week low of $51.63 and a 52-week high of $103.69. The stock's 50-day moving average is $77.05 and its two-hundred day moving average is $83.72. The stock has a market capitalization of $5.35 billion, a P/E ratio of 89.49, a PEG ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The company had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same period last year, the firm earned ($0.02) EPS. The firm's revenue for the quarter was up 53.9% on a year-over-year basis. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The shares were bought at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ROAD shares. Raymond James decreased their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. DA Davidson reissued a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird lifted their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th.

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.