Millennium Management LLC Sells 7,005 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Millennium Management LLC lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 71.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,857 shares of the company's stock after selling 7,005 shares during the period. Millennium Management LLC's holdings in Construction Partners were worth $253,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. Allspring Global Investments Holdings LLC lifted its stake in shares of Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after buying an additional 408,610 shares during the last quarter. Legato Capital Management LLC raised its holdings in Construction Partners by 40.0% in the 4th quarter. Legato Capital Management LLC now owns 19,670 shares of the company's stock valued at $1,740,000 after acquiring an additional 5,620 shares during the period. Rhumbline Advisers raised its holdings in Construction Partners by 0.8% in the 4th quarter. Rhumbline Advisers now owns 59,604 shares of the company's stock valued at $5,273,000 after acquiring an additional 496 shares during the period. Manchester Capital Management LLC acquired a new stake in Construction Partners during the fourth quarter worth approximately $118,000. Finally, Allworth Financial LP boosted its holdings in shares of Construction Partners by 15.0% during 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 during the period. 94.83% of the stock is owned by institutional investors.

Insider Activity

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the acquisition, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John L. Harper sold 6,000 shares of the 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 transaction, the senior vice president now owns 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 disclosure for this sale can be found here. 16.36% of the stock is owned by corporate insiders.

Construction Partners Stock Performance

Construction Partners stock traded up $0.65 during midday trading on Thursday, hitting $105.31. The company's stock had a trading volume of 425,957 shares, compared to its average volume of 455,793. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company has a market cap of $5.90 billion, a price-to-earnings ratio of 98.42, a PEG ratio of 0.99 and a beta of 0.97. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $111.98. The company has a 50-day moving average price of $91.30 and a two-hundred day moving average price of $86.31.

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 2.82% and a return on equity of 11.94%. The business had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same quarter in the prior year, the business posted ($0.02) earnings per share. Construction Partners's revenue was up 53.9% compared to the same quarter last year. As a group, sell-side analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analyst Ratings Changes

Separately, Raymond James lowered their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a research note on Tuesday, April 29th.

Construction Partners 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.