Construction Partners, Inc. (NASDAQ:ROAD) Shares Acquired by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. grew its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 15.5% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 76,119 shares of the company's stock after acquiring an additional 10,226 shares during the quarter. Asset Management One Co. Ltd. owned about 0.14% of Construction Partners worth $5,471,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in ROAD. Proficio Capital Partners LLC purchased a new position in shares of Construction Partners in the 4th quarter valued at about $1,596,000. QRG Capital Management Inc. purchased a new position in Construction Partners during the 4th quarter worth approximately $220,000. Chase Investment Counsel Corp purchased a new position in Construction Partners during the 4th quarter worth approximately $224,000. Jones Financial Companies Lllp grew its stake in Construction Partners by 319.1% during the 4th quarter. Jones Financial Companies Lllp now owns 9,643 shares of the company's stock worth $853,000 after buying an additional 7,342 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Construction Partners by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company's stock worth $40,957,000 after buying an additional 9,788 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insider Buying and Selling at Construction Partners

In related news, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following 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 acquisition 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 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. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial dropped their price target on 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.

Construction Partners Stock Performance

NASDAQ:ROAD traded down $2.09 during mid-day trading on Friday, reaching $106.00. 1,285,613 shares of the stock were exchanged, compared to its average volume of 466,967. The company has a 50 day simple moving average of $98.23 and a 200-day simple moving average of $86.68. The stock has a market capitalization of $5.94 billion, a P/E ratio of 90.60, a P/E/G ratio of 1.32 and a beta of 0.97. The company has a quick ratio of 1.13, a current ratio of 1.42 and a debt-to-equity ratio of 1.63. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $111.98.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating 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 company had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same period last year, the business posted ($0.02) EPS. The company's revenue was up 53.9% on a year-over-year basis. Analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

About Construction Partners

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.