Kayne Anderson Rudnick Investment Management LLC Sells 41,878 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Kayne Anderson Rudnick Investment Management LLC lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,579,271 shares of the company's stock after selling 41,878 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 4.62% of Construction Partners worth $228,162,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the acquisition, the chief executive officer now 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 filing with the SEC, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares of the company's stock, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.

Construction Partners Stock Up 0.7%

NASDAQ ROAD traded up $0.75 during trading on Friday, hitting $103.93. The stock had a trading volume of 97,970 shares, compared to its average volume of 446,109. 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 company's 50-day moving average price is $85.57 and its two-hundred day moving average price is $85.53. The company has a market capitalization of $5.82 billion, a PE ratio of 97.24, a P/E/G 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 $108.43.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share 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 return on equity of 11.94% and a net margin of 2.82%. The firm's revenue for the quarter was up 53.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.02) EPS. As a group, sell-side analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird increased 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. Finally, Raymond James lowered their price target on 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.

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.