Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Cetera Investment Advisers

Cetera Investment Advisers lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 22.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,389 shares of the company's stock after selling 4,161 shares during the quarter. Cetera Investment Advisers' holdings in Construction Partners were worth $1,273,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ROAD. Sheets Smith Wealth Management acquired a new stake in shares of Construction Partners during the fourth quarter worth about $632,000. Washington University acquired a new stake in shares of Construction Partners during the fourth quarter worth about $3,452,000. Barclays PLC lifted its position in shares of Construction Partners by 109.5% during the third quarter. Barclays PLC now owns 101,463 shares of the company's stock worth $7,082,000 after purchasing an additional 53,026 shares in the last quarter. KBC Group NV lifted its position in shares of Construction Partners by 49.5% during the fourth quarter. KBC Group NV now owns 2,118 shares of the company's stock worth $187,000 after purchasing an additional 701 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 197.0% during 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. Institutional investors and hedge funds own 94.83% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on ROAD shares. Raymond James reduced their price target on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research report on Tuesday, April 29th. Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th.

Insider Buying and Selling at Construction Partners

In related news, CEO Fred Julius Smith III purchased 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the purchase, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their position. The purchase 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 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 owns 159,389 shares in the company, valued at $11,767,689.87. This 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 currently owned by insiders.

Construction Partners Stock Down 1.2%

Shares of NASDAQ:ROAD opened at $100.42 on Friday. The firm's 50 day moving average price is $82.71 and its 200 day moving average price is $85.08. The stock has a market cap of $5.63 billion, a price-to-earnings ratio of 93.85, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $104.53. 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 (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, 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 2.82% and a return on equity of 11.94%. 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) earnings per share. As a group, equities research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.