Peregrine Capital Management LLC Buys 39,395 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Peregrine Capital Management LLC increased its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 42.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 131,778 shares of the company's stock after acquiring an additional 39,395 shares during the period. Peregrine Capital Management LLC owned about 0.24% of Construction Partners worth $9,471,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Versant Capital Management Inc purchased a new position in shares of Construction Partners in the first quarter worth $30,000. Johnson Financial Group Inc. bought a new stake in Construction Partners in the 4th quarter worth about $66,000. Golden State Wealth Management LLC raised its position in Construction Partners by 100.0% in the 1st quarter. Golden State Wealth Management LLC now owns 1,126 shares of the company's stock worth $81,000 after buying an additional 563 shares during the last quarter. Amalgamated Bank raised its position in Construction Partners by 8.8% in the 1st quarter. Amalgamated Bank now owns 1,593 shares of the company's stock worth $114,000 after buying an additional 129 shares during the last quarter. Finally, AlphaQuest LLC bought a new position in Construction Partners during the 4th quarter valued at about $138,000. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Performance

Construction Partners stock traded down $3.18 during mid-day trading on Thursday, reaching $102.95. 185,762 shares of the stock traded hands, compared to its average volume of 468,022. The stock has a market capitalization of $5.77 billion, a PE ratio of 87.99, a price-to-earnings-growth ratio of 1.30 and a beta of 0.96. 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 business's 50-day moving average is $100.01 and its 200-day moving average is $86.95. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $111.98.

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 (EPS) for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. The company had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same quarter last year, the firm posted ($0.02) earnings per share. The firm'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 EPS for the current fiscal year.

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 shares were acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, the chief executive officer directly owned 9,333 shares in the company, valued at $689,055.39. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 sale, the senior vice president directly owned 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Raymond James Financial decreased their price objective on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report 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.