Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by BNP Paribas Financial Markets

BNP Paribas Financial Markets lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,925 shares of the company's stock after selling 9,086 shares during the period. BNP Paribas Financial Markets' holdings in Construction Partners were worth $1,851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. USA Financial Formulas purchased a new stake in shares of Construction Partners during the 4th quarter worth about $31,000. Mather Group LLC. purchased a new position in Construction Partners in the fourth quarter valued at approximately $33,000. Byrne Asset Management LLC lifted its position in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after buying an additional 133 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after buying an additional 433 shares during the period. Finally, Golden State Wealth Management LLC purchased a new stake in Construction Partners during the fourth quarter worth approximately $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Down 1.8%

ROAD stock traded down $1.87 during trading on Thursday, reaching $99.79. The stock had a trading volume of 168,757 shares, compared to its average volume of 444,034. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The firm has a fifty day moving average price of $82.17 and a 200 day moving average price of $84.92. The company has a market capitalization of $5.59 billion, a P/E ratio of 93.42, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $104.53.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly 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. The business had revenue of $571.65 million for the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The company's revenue was up 53.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on ROAD shares. Raymond James cut their target price on shares of 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. DA Davidson reissued a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th.

Insider Buying and Selling at Construction Partners

In other news, CEO Fred Julius Smith III acquired 9,333 shares of the business's stock in a transaction on Monday, April 14th. The shares were purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at $689,055.39. This represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63% decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is currently owned by corporate insiders.

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.