Deutsche Bank AG Reduces Position in Construction Partners, Inc. (NASDAQ:ROAD)

Deutsche Bank AG cut its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 31.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 38,846 shares of the company's stock after selling 17,835 shares during the quarter. Deutsche Bank AG owned approximately 0.07% of Construction Partners worth $3,436,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Corton Capital Inc. bought a new stake in Construction Partners during the fourth quarter valued at about $266,000. Captrust Financial Advisors increased its holdings in shares of Construction Partners by 5.6% in the fourth quarter. Captrust Financial Advisors now owns 7,761 shares of the company's stock worth $687,000 after purchasing an additional 412 shares during the last quarter. Balyasny Asset Management L.P. increased its holdings in shares of Construction Partners by 51.1% in the fourth quarter. Balyasny Asset Management L.P. now owns 39,591 shares of the company's stock worth $3,502,000 after purchasing an additional 13,397 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Construction Partners by 2.6% in the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after purchasing an additional 28,723 shares during the last quarter. Finally, Gallo Partners LP bought a new stake in shares of Construction Partners in the fourth quarter worth about $1,091,000. 94.83% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was bought at an average price of $73.83 per share, with a total value of $689,055.39. Following the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at $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 company insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ROAD. Raymond James reduced their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. 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. Finally, Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.

Construction Partners Trading Up 2.1%

ROAD traded up $2.12 on Monday, hitting $102.54. The company had a trading volume of 249,853 shares, compared to its average volume of 444,030. The company has a market cap of $5.75 billion, a PE ratio of 95.83, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month 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. The business's fifty day simple moving average is $83.84 and its 200 day simple moving average is $85.19.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. The company had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The firm's revenue was up 53.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.02) earnings per share. Equities research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Construction Partners Company 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.