Total Wealth Planning & Management Inc. Invests $663,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Total Wealth Planning & Management Inc. bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,493 shares of the company's stock, valued at approximately $663,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ROAD. Washington University bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $3,452,000. Barclays PLC lifted its position in shares of Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company's stock worth $7,082,000 after buying an additional 53,026 shares during the period. KBC Group NV lifted its position in shares of Construction Partners by 49.5% during the 4th quarter. KBC Group NV now owns 2,118 shares of the company's stock worth $187,000 after buying an additional 701 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 197.0% during the 4th 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 period. Finally, Nisa Investment Advisors LLC lifted its position in shares of Construction Partners by 400.9% during the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after buying an additional 433 shares during the period. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Buying and Selling at Construction Partners

In other news, SVP John L. Harper sold 6,000 shares of the company'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 completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were purchased at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now directly 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 disclosure for this purchase can be found here. Insiders own 16.36% of the company's stock.

Analysts Set New Price Targets

Several research firms recently commented on ROAD. 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. 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, Robert W. Baird raised 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.

Construction Partners Price Performance

Shares of Construction Partners stock traded down $2.45 during trading on Thursday, reaching $103.18. The company's stock had a trading volume of 463,810 shares, compared to its average volume of 447,486. The stock has a 50-day moving average price of $85.09 and a two-hundred day moving average price of $85.48. 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, Inc. has a one year low of $51.63 and a one year high of $108.20. The stock has a market capitalization of $5.78 billion, a P/E ratio of 96.43, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its earnings results on Friday, May 9th. The company reported $0.08 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 company had revenue of $571.65 million during the quarter, compared to analysts' expectations of $559.61 million. During the same period last year, the firm earned ($0.02) EPS. The business's revenue for the quarter was up 53.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

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.