Construction Partners, Inc. (NASDAQ:ROAD) Stake Decreased by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 32.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,636 shares of the company's stock after selling 6,884 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main's holdings in Construction Partners were worth $1,295,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Corton Capital Inc. bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $266,000. Captrust Financial Advisors raised its holdings in shares of Construction Partners by 5.6% during the fourth quarter. Captrust Financial Advisors now owns 7,761 shares of the company's stock valued at $687,000 after buying an additional 412 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in shares of Construction Partners by 51.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 39,591 shares of the company's stock valued at $3,502,000 after buying an additional 13,397 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Construction Partners by 2.6% during the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after buying an additional 28,723 shares during the last quarter. Finally, Gallo Partners LP acquired a new position in shares of Construction Partners during the fourth quarter valued at approximately $1,091,000. Institutional investors own 94.83% of the company's stock.

Construction Partners Price Performance

NASDAQ ROAD opened at $95.75 on Monday. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The firm has a market capitalization of $5.35 billion, a PE ratio of 89.49, a P/E/G ratio of 0.99 and a beta of 0.87. The company's 50 day simple moving average is $77.05 and its 200 day simple moving average is $83.77.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.12. The firm 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 quarterly revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on ROAD. Raymond James lowered 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. DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird raised their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th.

Insiders Place Their Bets

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The shares were purchased 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 owns 9,333 shares in the company, valued at $689,055.39. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 completion of the transaction, the senior vice president now owns 159,389 shares in the company, 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. 16.36% of the stock is currently 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.

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