MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Has $50.63 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 572,361 shares of the company's stock after purchasing an additional 32,062 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 1.02% of Construction Partners worth $50,631,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Engle Capital Management L.P. boosted its stake in Construction Partners by 10.4% in the 4th quarter. Engle Capital Management L.P. now owns 152,000 shares of the company's stock valued at $13,446,000 after purchasing an additional 14,309 shares during the period. Fred Alger Management LLC raised its holdings in Construction Partners by 36.9% in the 4th quarter. Fred Alger Management LLC now owns 324,384 shares of the company's stock valued at $28,695,000 after acquiring an additional 87,487 shares in the last quarter. Corton Capital Inc. acquired a new position in Construction Partners in the 4th quarter valued at $266,000. Captrust Financial Advisors raised its holdings in Construction Partners by 5.6% in the 4th quarter. Captrust Financial Advisors now owns 7,761 shares of the company's stock valued at $687,000 after acquiring an additional 412 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its holdings in Construction Partners by 51.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 39,591 shares of the company's stock valued at $3,502,000 after acquiring an additional 13,397 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

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 that occurred 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 transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction dated Monday, April 14th. The shares were 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 in the company, valued at approximately $11,767,689.87. The trade was 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.

Construction Partners Price Performance

Shares of Construction Partners stock traded up $2.10 during trading on Friday, reaching $101.14. 630,100 shares of the company's stock were exchanged, compared to its average volume of 445,704. 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 company has a market cap of $5.65 billion, a P/E ratio of 94.52, a PEG ratio of 0.99 and a beta of 0.87. The firm's 50-day moving average price is $80.27 and its 200 day moving average price is $84.45.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) 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 business had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. The business's revenue for the quarter was up 53.9% compared to the same quarter last year. As a group, research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Upgrades and Downgrades

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