Mackenzie Financial Corp Acquires 7,195 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Mackenzie Financial Corp grew its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 175.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,303 shares of the company's stock after buying an additional 7,195 shares during the period. Mackenzie Financial Corp's holdings in Construction Partners were worth $1,000,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Byrne Asset Management LLC grew its position in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares in the last quarter. Allworth Financial LP grew its position in Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after acquiring an additional 160 shares in the last quarter. Summit Investment Advisors Inc. grew its position in Construction Partners by 5.0% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after acquiring an additional 213 shares in the last quarter. HighTower Advisors LLC boosted its holdings in shares of Construction Partners by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after purchasing an additional 350 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in shares of Construction Partners in the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Construction Partners Trading Up 1.4%

NASDAQ ROAD traded up $1.43 during trading on Tuesday, hitting $105.06. 201,995 shares of the company's stock traded hands, compared to its average volume of 448,477. The stock has a fifty day moving average of $86.60 and a two-hundred day moving average of $85.65. 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. The firm has a market cap of $5.89 billion, a P/E ratio of 98.09, a PEG ratio of 0.99 and a beta of 0.87.

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, topping 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 firm had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same period last year, the company posted ($0.02) EPS. The company's quarterly revenue was up 53.9% compared to the same quarter last year. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current 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 that occurred on Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the company's stock in a transaction on Monday, April 14th. The stock was purchased at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by 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.