Balyasny Asset Management L.P. Increases Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Balyasny Asset Management L.P. lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 51.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,591 shares of the company's stock after purchasing an additional 13,397 shares during the period. Balyasny Asset Management L.P. owned approximately 0.07% of Construction Partners worth $3,502,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. USA Financial Formulas acquired a new stake in shares of Construction Partners during the 4th quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Construction Partners in the fourth quarter valued at $33,000. Byrne Asset Management LLC raised its stake 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 position 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 worth $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new stake in Construction Partners in the 4th quarter valued at about $50,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Trading Down 1.1%

Construction Partners stock traded down $1.15 during trading on Thursday, hitting $99.04. The company's stock had a trading volume of 645,306 shares, compared to its average volume of 571,922. The stock's fifty day moving average is $78.99 and its 200 day moving average is $84.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $104.53. The stock has a market capitalization of $5.53 billion, a price-to-earnings ratio of 92.56, a P/E/G ratio of 0.99 and a beta of 0.87.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ROAD. Robert W. Baird upped their price target 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. Raymond James reduced their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Finally, DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.

Insider Transactions at Construction Partners

In other news, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares of the company's stock, valued at approximately $11,767,689.87. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.

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.