Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by Royal Bank of Canada

Royal Bank of Canada boosted its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 7.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 166,258 shares of the company's stock after purchasing an additional 11,690 shares during the period. Royal Bank of Canada owned approximately 0.30% of Construction Partners worth $14,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after acquiring an additional 1,046,617 shares in the last quarter. FMR LLC grew its position in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after acquiring an additional 565,583 shares during the period. Invesco Ltd. grew its stake in Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after acquiring an additional 642,987 shares during the period. Bank of America Corp DE boosted its holdings in Construction Partners by 2.6% in the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after buying an additional 28,723 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after acquiring an additional 30,362 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $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. 16.36% of the stock is owned by corporate insiders.

Construction Partners Price Performance

Shares of Construction Partners stock traded up $1.89 on Friday, hitting $105.07. 352,246 shares of the company were exchanged, compared to its average volume of 448,794. The company has a 50-day moving average price of $86.06 and a 200 day moving average price of $85.57. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 98.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $108.43.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly 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. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business had revenue of $571.65 million for the quarter, compared to analyst estimates of $559.61 million. During the same quarter in the prior year, the company posted ($0.02) EPS. The company's quarterly revenue was up 53.9% on a year-over-year basis. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROAD. Robert W. Baird lifted their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Raymond James lowered 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.

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.