Construction Partners, Inc. (NASDAQ:ROAD) Shares Purchased by ProShare Advisors LLC

ProShare Advisors LLC grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 49.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,091 shares of the company's stock after purchasing an additional 3,977 shares during the period. ProShare Advisors LLC's holdings in Construction Partners were worth $1,070,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Mather Group LLC. bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $33,000. Byrne Asset Management LLC increased its stake in shares of 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 buying an additional 133 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after acquiring an additional 433 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in Construction Partners during the 4th quarter valued at about $50,000. Finally, Johnson Financial Group Inc. purchased a new stake in Construction Partners in the fourth quarter worth $66,000. Institutional investors own 94.83% of the company's stock.

Insider Buying and Selling

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 transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Trading Down 2.0%

Shares of ROAD stock traded down $2.14 during trading hours on Wednesday, reaching $104.80. 67,636 shares of the stock were exchanged, compared to its average volume of 443,383. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $107.61. The company's 50-day moving average price is $84.46 and its 200-day moving average price is $85.34. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 97.91, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $559.61 million. During the same period last year, the business earned ($0.02) EPS. The company's revenue was up 53.9% compared to the same quarter last year. As a group, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Wall Street Analyst Weigh In

ROAD has been the topic of several recent research reports. Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Raymond James lowered their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Finally, DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.

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.