Moody Aldrich Partners LLC Lowers Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Moody Aldrich Partners LLC lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 26.2% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 42,560 shares of the company's stock after selling 15,129 shares during the quarter. Moody Aldrich Partners LLC owned 0.08% of Construction Partners worth $3,059,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROAD. Vanguard Group Inc. increased its position in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after buying an additional 1,046,617 shares in the last quarter. Invesco Ltd. grew its position in shares of Construction Partners by 75.6% during the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares in the last quarter. FMR LLC grew its position in shares of Construction Partners by 32.1% during the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares in the last quarter. Artemis Investment Management LLP grew its position in shares of Construction Partners by 225.9% during the first quarter. Artemis Investment Management LLP now owns 695,949 shares of the company's stock worth $50,018,000 after purchasing an additional 482,374 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Construction Partners during the fourth quarter worth about $42,527,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insiders Place Their Bets

In other Construction Partners news, CEO Fred Julius Smith III acquired 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, for a total transaction of $689,055.39. Following the acquisition, the chief executive officer directly owned 9,333 shares in the company, valued at $689,055.39. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the transaction, the senior vice president owned 159,389 shares of the company's stock, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial cut their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Construction Partners Trading Down 1.1%

Shares of NASDAQ:ROAD traded down $1.22 during trading on Monday, hitting $107.16. The company had a trading volume of 250,922 shares, compared to its average volume of 469,550. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 91.59, a price-to-earnings-growth ratio of 1.35 and a beta of 0.96. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $111.98. The company has a fifty day simple moving average of $100.91 and a two-hundred day simple moving average of $87.00. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.42 and a quick ratio of 1.13.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data 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 11.49% and a net margin of 2.80%. The company had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Construction Partners's revenue was up 53.9% compared to the same quarter last year. As a group, equities analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share 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.