Institute for Wealth Management LLC. bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 4,456 shares of the company's stock, valued at approximately $320,000.
Several other institutional investors have also bought and sold shares of the stock. Versant Capital Management Inc bought a new position in Construction Partners during the 1st quarter valued at about $30,000. Johnson Financial Group Inc. bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $66,000. Allworth Financial LP raised its stake in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after acquiring an additional 160 shares during the last quarter. AlphaQuest LLC bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $138,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Construction Partners in the fourth quarter valued at approximately $146,000. Institutional investors and hedge funds own 94.83% of the company's stock.
Analyst Ratings Changes
Separately, Raymond James Financial cut their price objective 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.
Check Out Our Latest Stock Report on ROAD
Construction Partners Trading Down 1.2%
Shares of NASDAQ ROAD opened at $102.34 on Friday. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $111.98. The company has a market cap of $5.73 billion, a PE ratio of 87.47, a P/E/G ratio of 1.29 and a beta of 0.97. 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 company has a 50-day moving average of $95.34 and a two-hundred day moving average of $86.47.
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 the consensus estimate 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 in the previous year, the company posted ($0.02) EPS. Construction Partners's revenue was up 53.9% on a year-over-year basis. As a group, equities analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction 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 sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III bought 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.36% of the company's stock.
Construction Partners Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding ROAD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Construction Partners, Inc. (NASDAQ:ROAD - Free Report).
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