4,456 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Purchased by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 4,456 shares of the company's stock, valued at approximately $320,000.

Other large investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc acquired a new position in shares of Construction Partners in the 1st quarter valued at $30,000. Johnson Financial Group Inc. purchased a new position in shares of Construction Partners in the 4th quarter worth $66,000. Allworth Financial LP raised its position in shares of Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after buying an additional 160 shares during the period. AlphaQuest LLC acquired a new position in Construction Partners in the fourth quarter valued at $138,000. Finally, Harvest Fund Management Co. Ltd purchased a new stake in Construction Partners during the fourth quarter valued at about $146,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Construction Partners

In related news, CEO Fred Julius Smith III purchased 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were bought 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 $689,055.39. This represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, SVP John L. Harper sold 6,000 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

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

Construction Partners Stock Up 2.9%

ROAD traded up $3.08 during trading hours on Tuesday, reaching $110.18. 726,439 shares of the stock traded hands, compared to its average volume of 461,479. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $111.99. The company has a market cap of $6.17 billion, a price-to-earnings ratio of 94.17, a PEG ratio of 1.28 and a beta of 0.97. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.42 and a quick ratio of 1.13. The firm's fifty day simple moving average is $95.89 and its two-hundred day simple moving average is $86.31.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its 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. The company had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a return on equity of 11.49% and a net margin of 2.80%. The business's revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) earnings per share. As a group, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

About Construction Partners

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.