Construction Partners, Inc. (NASDAQ:ROAD) Stock Position Reduced by Two Sigma Investments LP

Two Sigma Investments LP cut its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 77.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,549 shares of the company's stock after selling 26,174 shares during the quarter. Two Sigma Investments LP's holdings in Construction Partners were worth $668,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of 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 buying an additional 1,046,617 shares during the period. FMR LLC boosted its position in shares of 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 buying an additional 565,583 shares during the period. Invesco Ltd. boosted its position in shares of 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 buying an additional 642,987 shares during the period. Bank of America Corp DE boosted its position in shares of 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 buying an additional 28,723 shares during the period. Finally, Geode Capital Management LLC boosted its position in shares of 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 buying an additional 30,362 shares during the period. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Stock Up 2.2%

ROAD traded up $2.28 on Wednesday, reaching $104.66. The company's stock had a trading volume of 405,000 shares, compared to its average volume of 455,853. The stock has a market cap of $5.86 billion, a price-to-earnings ratio of 97.81, a price-to-earnings-growth ratio of 0.99 and a beta of 0.97. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $111.98. 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 business's 50 day moving average is $91.30 and its 200 day moving average is $86.31.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued 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 firm had revenue of $571.65 million during the quarter, compared to the consensus estimate of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. Construction Partners's revenue for the quarter was up 53.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.02) earnings per share. As a group, research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the stock in a transaction dated Monday, April 14th. The stock was 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 approximately $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Fred Julius Smith III purchased 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following the acquisition, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at $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 currently owned by company insiders.

Wall Street Analysts Forecast Growth

Separately, 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.

About Construction Partners

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.