Deutsche Bank AG Sells 17,835 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Deutsche Bank AG trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ROAD. Barclays PLC boosted its holdings in shares of Construction Partners by 109.5% in the third quarter. Barclays PLC now owns 101,463 shares of the company's stock worth $7,082,000 after buying an additional 53,026 shares during the period. Perpetual Ltd boosted its holdings in shares of Construction Partners by 47.0% in the fourth quarter. Perpetual Ltd now owns 9,277 shares of the company's stock worth $821,000 after buying an additional 2,967 shares during the period. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the fourth quarter worth about $632,000. Nisa Investment Advisors LLC boosted its holdings in shares of Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after buying an additional 433 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Construction Partners by 49.5% in the fourth quarter. KBC Group NV now owns 2,118 shares of the company's stock worth $187,000 after buying an additional 701 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have commented on ROAD shares. Raymond James decreased their target price on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. DA Davidson reiterated 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 raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.

Construction Partners Stock Up 2.1%

Shares of ROAD stock traded up $2.12 during trading on Friday, hitting $102.54. 249,853 shares of the company were exchanged, compared to its average volume of 443,480. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm has a market capitalization of $5.75 billion, a price-to-earnings ratio of 95.83, a P/E/G ratio of 0.99 and a beta of 0.87. The business's 50-day simple moving average is $83.31 and its 200 day simple moving average is $85.23. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $104.53.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted 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 business had revenue of $571.65 million during 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 quarterly revenue was up 53.9% compared to the same quarter last year. During the same period last year, the company posted ($0.02) earnings per share. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP John L. Harper sold 6,000 shares of the firm's 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 sale, the senior vice president now directly 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 document filed with the SEC, which can be accessed through the SEC website. Also, CEO Fred Julius Smith III acquired 9,333 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were acquired at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $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 corporate insiders.

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.