ProShare Advisors LLC Has $1.07 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after purchasing an additional 1,046,617 shares during the period. FMR LLC increased its position in Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares during the period. Invesco Ltd. increased its position in Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares during the period. Bank of America Corp DE increased its position in Construction Partners by 2.6% in the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock worth $98,991,000 after purchasing an additional 28,723 shares during the period. Finally, Geode Capital Management LLC increased its position in Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after purchasing an additional 30,362 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Robert W. Baird boosted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. DA Davidson restated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James decreased their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday, April 29th.

Construction Partners Price Performance

Construction Partners stock opened at $100.42 on Friday. The firm has a market capitalization of $5.63 billion, a P/E ratio of 93.85, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $104.53. The business has a 50-day moving average of $82.71 and a 200-day moving average of $85.08. 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 issued its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. During the same period in the previous year, the firm earned ($0.02) EPS. Construction Partners's quarterly revenue was up 53.9% compared to the same quarter last year. On average, equities analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Activity at Construction Partners

In other Construction Partners news, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now owns 9,333 shares of the company's stock, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP John L. Harper sold 6,000 shares of the business'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 owns 159,389 shares of the company's stock, valued at $11,767,689.87. This represents 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 insiders.

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.

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