Artemis Investment Management LLP Grows Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Artemis Investment Management LLP increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 225.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 695,949 shares of the company's stock after purchasing an additional 482,374 shares during the period. Artemis Investment Management LLP owned approximately 1.25% of Construction Partners worth $50,018,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ROAD. Summit Investment Advisors Inc. boosted its position in Construction Partners by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock valued at $397,000 after buying an additional 213 shares during the period. HighTower Advisors LLC raised its stake in shares of Construction Partners by 1.2% in the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after acquiring an additional 350 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Construction Partners by 5.6% in the fourth quarter. Captrust Financial Advisors now owns 7,761 shares of the company's stock valued at $687,000 after purchasing an additional 412 shares during the period. Versant Capital Management Inc acquired a new position in Construction Partners during the 1st quarter worth $30,000. Finally, Rhumbline Advisers grew its stake in Construction Partners by 0.8% during the 4th quarter. Rhumbline Advisers now owns 59,604 shares of the company's stock worth $5,273,000 after purchasing an additional 496 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Activity at Construction Partners

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of Construction Partners stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 completion of the transaction, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents 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.

Construction Partners Price Performance

Construction Partners stock opened at $108.09 on Friday. The stock has a market cap of $6.06 billion, a P/E ratio of 92.39, a price-to-earnings-growth ratio of 1.32 and a beta of 0.97. 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 fifty day simple moving average of $97.66 and a 200-day simple moving average of $86.69. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $111.98.

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, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. 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 business posted ($0.02) EPS. The company's revenue for the quarter was up 53.9% on a year-over-year basis. Equities analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.