Rhumbline Advisers Has $4.56 Million Position in Construction Partners, Inc. (NASDAQ:ROAD)

Rhumbline Advisers raised its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 63,385 shares of the company's stock after buying an additional 3,781 shares during the quarter. Rhumbline Advisers owned 0.11% of Construction Partners worth $4,555,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. Versant Capital Management Inc acquired a new stake in Construction Partners in the 1st quarter valued at approximately $30,000. Johnson Financial Group Inc. acquired a new stake in shares of Construction Partners during the 4th quarter worth approximately $66,000. Allworth Financial LP grew its holdings in shares of Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after purchasing an additional 160 shares in the last quarter. Manchester Capital Management LLC acquired a new stake in shares of Construction Partners during the 4th quarter worth approximately $118,000. Finally, AlphaQuest LLC acquired a new stake in shares of Construction Partners during the 4th quarter worth approximately $138,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Price Performance

Shares of Construction Partners stock traded down $1.64 during midday trading on Friday, hitting $103.67. 365,371 shares of the company were exchanged, compared to its average volume of 456,092. 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 firm has a market cap of $5.81 billion, a P/E ratio of 96.89, a PEG ratio of 0.99 and a beta of 0.97. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week high of $111.98. The firm has a 50 day simple moving average of $92.69 and a 200-day simple moving average of $86.37.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping analysts' consensus estimates of ($0.04) by $0.12. The company had revenue of $571.65 million for the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business's revenue was up 53.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. Research analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of Construction Partners stock in a transaction on Monday, April 14th. The shares were bought at an average price 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 of the company's stock, valued at approximately $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 owned by company insiders.

Analysts Set New Price Targets

Separately, 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 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.