Cetera Investment Advisers Cuts Position in Construction Partners, Inc. (NASDAQ:ROAD)

Cetera Investment Advisers reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 22.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in ROAD. Mather Group LLC. purchased a new position in shares of Construction Partners in the 4th quarter valued at $33,000. Byrne Asset Management LLC boosted its stake in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in shares of Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after purchasing an additional 433 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Construction Partners during the fourth quarter worth about $50,000. Finally, Johnson Financial Group Inc. purchased a new stake in shares of Construction Partners in the 4th quarter valued at about $66,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. DA Davidson restated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. 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 report on Tuesday, April 29th. Finally, Robert W. Baird upped their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.

Construction Partners Stock Performance

ROAD stock traded down $0.88 during trading on Wednesday, hitting $106.05. The company had a trading volume of 50,715 shares, compared to its average volume of 555,206. The firm has a 50-day moving average price of $84.46 and a 200-day moving average price of $85.34. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The firm has a market cap of $5.94 billion, a PE ratio of 99.13, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $107.79.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 previous year, the company posted ($0.02) earnings per share. The company's revenue for the quarter was up 53.9% compared to the same quarter last year. On average, analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Insider Transactions at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the stock in a transaction dated 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 $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Fred Julius Smith III bought 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.36% of the company's stock.

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.