Bessemer Group Inc. Cuts Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Bessemer Group Inc. lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 14.5% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 245,122 shares of the company's stock after selling 41,565 shares during the period. Bessemer Group Inc. owned about 0.44% of Construction Partners worth $17,618,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Summit Investment Advisors Inc. raised its stake in Construction Partners by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after acquiring an additional 213 shares during the period. HighTower Advisors LLC raised its stake in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares during the period. Captrust Financial Advisors raised its stake in Construction Partners by 5.6% during the 4th quarter. Captrust Financial Advisors now owns 7,761 shares of the company's stock worth $687,000 after acquiring an additional 412 shares during the period. Versant Capital Management Inc bought a new stake in Construction Partners during the 1st quarter worth approximately $30,000. Finally, Rhumbline Advisers raised its stake in Construction Partners by 0.8% during the 4th quarter. Rhumbline Advisers now owns 59,604 shares of the company's stock worth $5,273,000 after acquiring an additional 496 shares during the period. Institutional investors own 94.83% of the company's stock.

Insider Activity

In related news, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction dated 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 transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the transaction, the senior vice president now directly owns 159,389 shares of the company's stock, 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. Company insiders own 16.36% of the company's stock.

Construction Partners Price Performance

Shares of Construction Partners stock traded down $2.09 on Friday, hitting $106.00. 1,285,613 shares of the company traded hands, compared to its average volume of 466,020. The stock has a market capitalization of $5.94 billion, a P/E ratio of 90.60, a price-to-earnings-growth ratio of 1.32 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. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week high of $111.98. The business has a 50-day simple moving average of $97.66 and a 200 day simple moving average of $86.69.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. The firm 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 company's revenue for the quarter was up 53.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.02) earnings per share. Research analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Raymond James Financial decreased 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.

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.