Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 53.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 26,526 shares of the company's stock after selling 30,249 shares during the quarter. Squarepoint Ops LLC's holdings in Construction Partners were worth $2,346,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

ROAD has been the topic of several recent analyst reports. Raymond James cut their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th. Robert W. Baird upped their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.

Insider Buying and Selling

In other news, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was purchased 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 owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John L. Harper sold 6,000 shares of the business'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 transaction, 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. Company insiders own 16.36% of the company's stock.

Construction Partners Stock Performance

ROAD traded up $1.89 during trading hours on Friday, hitting $105.07. 352,246 shares of the stock were exchanged, compared to its average volume of 448,794. The stock has a market cap of $5.89 billion, a price-to-earnings ratio of 98.20, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The stock has a 50-day simple moving average of $86.06 and a 200-day simple moving average of $85.54. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. 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 posted its quarterly earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. During the same period in the previous year, the business posted ($0.02) EPS. The company's quarterly revenue was up 53.9% on a year-over-year basis. Analysts anticipate 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.