Conestoga Capital Advisors LLC Has $248.27 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Conestoga Capital Advisors LLC lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,454,391 shares of the company's stock after selling 60,091 shares during the period. Construction Partners makes up 3.7% of Conestoga Capital Advisors LLC's investment portfolio, making the stock its 3rd largest position. Conestoga Capital Advisors LLC owned about 6.18% of Construction Partners worth $248,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Versant Capital Management Inc purchased a new stake in shares of Construction Partners during the 1st quarter valued at $30,000. Johnson Financial Group Inc. bought a new position in Construction Partners in the fourth quarter valued at $66,000. Allworth Financial LP increased its stake in Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after acquiring an additional 160 shares during the last quarter. AlphaQuest LLC purchased a new stake in Construction Partners during the fourth quarter valued at about $138,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Construction Partners during the fourth quarter valued at about $146,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

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

Construction Partners Trading Down 1.2%

Shares of ROAD traded down $1.21 during mid-day trading on Friday, reaching $102.34. The company's stock had a trading volume of 742,866 shares, compared to its average volume of 458,789. The stock has a market cap of $5.73 billion, a PE ratio of 87.47, a P/E/G ratio of 1.29 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. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week high of $111.98. The company's fifty day moving average price is $94.90 and its two-hundred day moving average price is $86.46.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million for the quarter, compared to analysts' expectations of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The firm's revenue was up 53.9% compared to the same quarter last year. During the same quarter last year, the company earned ($0.02) EPS. On average, analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Construction Partners

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

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.