Engle Capital Management L.P. Has $13.45 Million Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Engle Capital Management L.P. boosted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 10.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 152,000 shares of the company's stock after buying an additional 14,309 shares during the quarter. Construction Partners makes up approximately 4.0% of Engle Capital Management L.P.'s investment portfolio, making the stock its 12th largest position. Engle Capital Management L.P. owned approximately 0.27% of Construction Partners worth $13,446,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Sheets Smith Wealth Management bought a new stake in shares of Construction Partners during the fourth quarter worth approximately $632,000. Artemis Investment Management LLP bought a new stake in shares of Construction Partners during the fourth quarter worth approximately $18,893,000. Washington University bought a new stake in shares of Construction Partners during the fourth quarter worth approximately $3,452,000. Barclays PLC boosted its stake in shares of Construction Partners by 109.5% in the third quarter. Barclays PLC now owns 101,463 shares of the company's stock valued at $7,082,000 after buying an additional 53,026 shares during the period. Finally, KBC Group NV boosted its stake in shares of Construction Partners by 49.5% in the fourth quarter. KBC Group NV now owns 2,118 shares of the company's stock valued at $187,000 after buying an additional 701 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Insiders Place Their Bets

In other news, CEO Fred Julius Smith III purchased 9,333 shares of the business's stock in a transaction dated Monday, April 14th. The shares were purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares of the company's stock, valued at $689,055.39. This trade represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 directly owns 159,389 shares in the company, 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. Insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ROAD. Raymond James cut their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research note on Tuesday, April 29th. Robert W. Baird boosted their price target on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, DA Davidson reiterated 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 Price Performance

NASDAQ:ROAD traded up $3.34 during trading hours on Tuesday, hitting $103.36. The company's stock had a trading volume of 820,423 shares, compared to its average volume of 442,733. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $104.48. 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 stock has a fifty day simple moving average of $77.67 and a 200-day simple moving average of $83.93. The company has a market capitalization of $5.78 billion, a P/E ratio of 96.60, a PEG ratio of 0.99 and a beta of 0.87.

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 for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million for 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%. The firm's quarterly revenue was up 53.9% compared to the same quarter last year. During the same period last year, the company posted ($0.02) EPS. On average, analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

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.