Rhumbline Advisers Purchases 3,781 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

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

Other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in Construction Partners by 197.0% during the fourth 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. Manchester Capital Management LLC acquired a new position in shares of Construction Partners during the 4th quarter worth about $118,000. Allworth Financial LP raised its holdings in shares of Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after purchasing an additional 160 shares during the period. Peregrine Capital Management LLC bought a new stake in shares of Construction Partners in the 4th quarter valued at about $8,172,000. Finally, Pinnacle Financial Partners Inc acquired a new stake in Construction Partners in the 4th quarter valued at about $209,000. Institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

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

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded down $0.89 on Tuesday, hitting $104.22. The company had a trading volume of 432,544 shares, compared to its average volume of 456,352. The stock has a market cap of $5.84 billion, a price-to-earnings ratio of 89.08, a P/E/G ratio of 1.31 and a beta of 0.97. The stock has a 50 day moving average price of $93.90 and a 200 day moving average price of $86.31. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $111.98. The company has a current ratio of 1.42, a quick ratio of 1.13 and a debt-to-equity ratio of 1.63.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating analysts' consensus estimates of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to analyst estimates of $559.61 million. Construction Partners had a net margin of 2.80% and a return on equity of 11.49%. Construction Partners's quarterly revenue was up 53.9% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.02) EPS. Analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Buying and Selling

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated 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 sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The shares were acquired at an average price 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 in the company, valued at approximately $689,055.39. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is currently 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.