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

Conestoga Capital Advisors LLC lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 3,454,391 shares of the company's stock after selling 60,091 shares during the period. Construction Partners accounts for approximately 3.7% of Conestoga Capital Advisors LLC's holdings, making the stock its 3rd biggest holding. Conestoga Capital Advisors LLC owned 6.18% of Construction Partners worth $248,267,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. EFG Asset Management North America Corp. raised its stake in Construction Partners by 48.1% during the fourth quarter. EFG Asset Management North America Corp. now owns 68,090 shares of the company's stock worth $6,026,000 after acquiring an additional 22,107 shares during the period. Vanguard Group Inc. boosted its position in Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after purchasing an additional 1,046,617 shares during the period. Tyro Capital Management LLC grew its stake in Construction Partners by 20.1% during the 4th quarter. Tyro Capital Management LLC now owns 242,309 shares of the company's stock worth $21,435,000 after buying an additional 40,608 shares during the last quarter. Cibc World Markets Corp acquired a new stake in Construction Partners in the fourth quarter worth $355,000. Finally, QRG Capital Management Inc. acquired a new stake in Construction Partners in the fourth quarter worth $220,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Price Performance

Shares of NASDAQ ROAD traded down $0.67 during trading on Wednesday, hitting $103.55. The company had a trading volume of 590,437 shares, compared to its average volume of 457,652. The company has a market cap of $5.80 billion, a P/E ratio of 88.51, a PEG ratio of 1.30 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.42. The business's 50-day moving average is $94.39 and its 200 day moving average is $86.43. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week 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 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. Construction Partners's revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.02) earnings per share. Equities research 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, 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 value of $442,980.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

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

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.