Legato Capital Management LLC Sells 7,870 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Legato Capital Management LLC reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 40.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,800 shares of the company's stock after selling 7,870 shares during the quarter. Legato Capital Management LLC's holdings in Construction Partners were worth $848,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Montag A & Associates Inc. purchased a new position in Construction Partners during the first quarter worth about $29,000. Versant Capital Management Inc purchased a new position in Construction Partners during the first quarter worth about $30,000. Johnson Financial Group Inc. purchased a new position in Construction Partners during the fourth quarter worth about $66,000. Golden State Wealth Management LLC boosted its holdings in Construction Partners by 100.0% during the first quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after purchasing an additional 563 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in Construction Partners by 8.8% during the first quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after purchasing an additional 129 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Raymond James Financial cut their price target on shares of 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 Performance

ROAD stock traded up $2.08 during mid-day trading on Friday, hitting $105.44. The company had a trading volume of 287,446 shares, compared to its average volume of 495,216. The firm has a market cap of $5.91 billion, a PE ratio of 90.12, a price-to-earnings-growth ratio of 1.29 and a beta of 0.96. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.42. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $114.74. The stock's fifty day moving average price is $104.96 and its two-hundred day moving average price is $88.55.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The company's revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.02) earnings per share. On average, analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal 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.