DAVENPORT & Co LLC Sells 5,029 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

DAVENPORT & Co LLC lowered its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 12.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,340 shares of the company's stock after selling 5,029 shares during the quarter. DAVENPORT & Co LLC owned 0.07% of Construction Partners worth $2,612,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Asset Management One Co. Ltd. grew its stake in Construction Partners by 15.5% in the 1st quarter. Asset Management One Co. Ltd. now owns 76,119 shares of the company's stock worth $5,471,000 after acquiring an additional 10,226 shares in the last quarter. EFG Asset Management North America Corp. grew its stake in Construction Partners by 48.1% in the fourth quarter. EFG Asset Management North America Corp. now owns 68,090 shares of the company's stock valued at $6,026,000 after purchasing an additional 22,107 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after acquiring an additional 1,046,617 shares in the last quarter. Tyro Capital Management LLC increased its position in shares of Construction Partners by 20.1% during the fourth quarter. Tyro Capital Management LLC now owns 242,309 shares of the company's stock worth $21,435,000 after purchasing an additional 40,608 shares in the last quarter. Finally, Cibc World Markets Corp acquired a new stake in Construction Partners in the fourth quarter worth about $355,000. Institutional investors own 94.83% of the company's stock.

Analyst Ratings Changes

Separately, Raymond James Financial dropped their target price 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 Price Performance

Construction Partners stock opened at $102.95 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.77 billion, a P/E ratio of 87.99, a PEG ratio of 1.35 and a beta of 0.96. The company has a 50-day moving average price of $100.91 and a 200 day moving average price of $87.05. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $111.98.

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 for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The firm had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same quarter last year, the company posted ($0.02) EPS. The firm's quarterly revenue was up 53.9% on a year-over-year basis. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred 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 directly owned 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Fred Julius Smith III purchased 9,333 shares of the business's stock in a transaction dated Monday, April 14th. The stock was bought at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, the chief executive officer owned 9,333 shares of the company's stock, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. 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.

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