SG Americas Securities LLC Raises Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

SG Americas Securities LLC increased its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 563.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,540 shares of the company's stock after acquiring an additional 7,253 shares during the quarter. SG Americas Securities LLC's holdings in Construction Partners were worth $614,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. NBC Securities Inc. grew its position in shares of Construction Partners by 111,500.0% in the first quarter. NBC Securities Inc. now owns 4,464 shares of the company's stock valued at $320,000 after purchasing an additional 4,460 shares during the period. Rhumbline Advisers lifted its stake in Construction Partners by 6.3% in the 1st quarter. Rhumbline Advisers now owns 63,385 shares of the company's stock valued at $4,555,000 after buying an additional 3,781 shares in the last quarter. GAMMA Investing LLC boosted its holdings in Construction Partners by 6,734.0% in the 1st quarter. GAMMA Investing LLC now owns 62,599 shares of the company's stock worth $4,499,000 after buying an additional 61,683 shares during the last quarter. Versant Capital Management Inc acquired a new stake in Construction Partners in the 1st quarter worth about $30,000. Finally, Total Wealth Planning & Management Inc. purchased a new stake in Construction Partners during the 4th quarter worth approximately $663,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Price Performance

Shares of NASDAQ:ROAD traded down $4.08 during midday trading on Wednesday, hitting $106.10. The company's stock had a trading volume of 369,210 shares, compared to its average volume of 462,643. The company has a market cap of $5.94 billion, a P/E ratio of 90.68, a price-to-earnings-growth ratio of 1.33 and a beta of 0.97. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $111.98. The business's 50 day simple moving average is $96.49 and its 200 day simple moving average is $86.48. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.13 and a current ratio of 1.42.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating 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 during the quarter, compared to the consensus estimate of $559.61 million. During the same quarter in the prior year, the firm earned ($0.02) EPS. Construction Partners's quarterly revenue was up 53.9% on a year-over-year basis. On average, analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Raymond James Financial decreased their target price 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.

Insider Activity at Construction Partners

In other news, CEO Fred Julius Smith III acquired 9,333 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 sale, the senior vice president now owns 159,389 shares of the company's stock, valued at approximately $11,767,689.87. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.

Construction Partners Company 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.