Artemis Investment Management LLP Acquires 482,374 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Artemis Investment Management LLP raised its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 225.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 695,949 shares of the company's stock after acquiring an additional 482,374 shares during the period. Artemis Investment Management LLP owned about 1.25% of Construction Partners worth $50,018,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ROAD. Versant Capital Management Inc bought a new position in shares of Construction Partners during the 1st quarter worth about $30,000. Johnson Financial Group Inc. bought a new position in Construction Partners during the fourth quarter worth about $66,000. Golden State Wealth Management LLC lifted its stake in Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after purchasing an additional 563 shares during the period. AlphaQuest LLC acquired a new stake in Construction Partners during the fourth quarter valued at approximately $138,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Construction Partners in the 4th quarter valued at approximately $146,000. Institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

Separately, Raymond James Financial cut their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Insider Activity at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was 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 directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by company insiders.

Construction Partners Price Performance

ROAD stock traded up $0.68 during trading on Monday, hitting $106.68. 394,046 shares of the stock traded hands, compared to its average volume of 467,899. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 91.18, a P/E/G ratio of 1.32 and a beta of 0.97. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $111.98. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63. The company has a 50 day simple moving average of $98.23 and a 200 day simple moving average of $86.61.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The business had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same period in the previous year, the business earned ($0.02) EPS. Construction Partners's revenue was up 53.9% compared to the same quarter last year. Equities analysts expect 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.