Mercer Global Advisors Inc. ADV Decreases Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Mercer Global Advisors Inc. ADV lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 37.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,294 shares of the company's stock after selling 2,624 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Construction Partners were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after buying an additional 1,046,617 shares during the last quarter. FMR LLC raised its holdings in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after buying an additional 565,583 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after buying an additional 642,987 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after acquiring an additional 30,362 shares during the period. Finally, First Trust Advisors LP increased its stake in shares of Construction Partners by 44.9% in the fourth quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock worth $74,295,000 after acquiring an additional 260,148 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded up $2.10 during midday trading on Friday, reaching $101.14. The company's stock had a trading volume of 630,100 shares, compared to its average volume of 445,802. The firm has a market capitalization of $5.65 billion, a PE ratio of 94.52, a P/E/G ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $104.53. The stock has a fifty day moving average of $80.27 and a 200 day moving average of $84.45. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

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

Analyst Ratings Changes

ROAD has been the topic of a number of research reports. DA Davidson reiterated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Raymond James cut their price objective on shares of 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.

Insider Activity 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 shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now directly owns 159,389 shares of the company's stock, valued at $11,767,689.87. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by company insiders.

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.