BNP Paribas Financial Markets Trims Stake in Construction Partners, Inc. (NASDAQ:ROAD)

BNP Paribas Financial Markets reduced its holdings 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 disclosure with the Securities and Exchange Commission. The fund 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 quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROAD. Vanguard Group Inc. increased its holdings in Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after buying an additional 1,046,617 shares during the last quarter. Invesco Ltd. increased its stake in shares of Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares in the last quarter. FMR LLC increased its stake in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Construction Partners in the fourth quarter worth $42,527,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after purchasing an additional 408,610 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Construction Partners news, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction on Monday, April 14th. The stock was acquired 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 of the company's stock, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the 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 transaction, the senior vice president now owns 159,389 shares of the company's stock, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded up $2.12 during midday trading on Friday, reaching $102.54. 249,853 shares of the company were exchanged, compared to its average volume of 443,480. 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 business's fifty day moving average is $83.31 and its two-hundred day moving average is $85.23. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $104.53. The stock has a market cap of $5.75 billion, a PE ratio of 95.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. During the same quarter in the prior year, the business earned ($0.02) earnings per share. Construction Partners's revenue for the quarter was up 53.9% on a year-over-year basis. As a group, analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

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

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.