Ameriprise Financial Inc. Has $63.25 Million Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Ameriprise Financial Inc. trimmed its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 714,951 shares of the company's stock after selling 21,592 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.28% of Construction Partners worth $63,245,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. USA Financial Formulas purchased a new position in shares of Construction Partners during the fourth quarter valued at $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners during the 4th quarter worth about $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 purchasing an additional 133 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC bought a new position in Construction Partners during the fourth quarter valued at about $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

Shares of ROAD stock traded up $4.27 during trading on Monday, hitting $100.02. The company had a trading volume of 591,590 shares, compared to its average volume of 441,222. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm has a market capitalization of $5.59 billion, a P/E ratio of 93.48, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The stock's 50-day moving average price is $77.67 and its 200 day moving average price is $83.93. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $103.69.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The firm's revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) earnings per share. Equities analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insiders Place Their Bets

In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of the business's stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John L. Harper sold 6,000 shares of the company's 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 sale, the senior vice president now owns 159,389 shares of the company's stock, valued at $11,767,689.87. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

Analysts Set New Price Targets

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

Construction Partners 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.