Two Sigma Investments LP Sells 26,174 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

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

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Construction Partners by 42.8% during the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after buying an additional 1,046,617 shares in the last quarter. FMR LLC raised its position in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after buying an additional 565,583 shares in the last quarter. Invesco Ltd. raised its position in shares of Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after buying an additional 642,987 shares in the last quarter. Bank of America Corp DE raised its position in shares of Construction Partners by 2.6% during the 4th quarter. Bank of America Corp DE now owns 1,119,051 shares of the company's stock valued at $98,991,000 after buying an additional 28,723 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Construction Partners by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock valued at $93,617,000 after buying an additional 30,362 shares in the last quarter. 94.83% of the stock is owned by institutional investors.

Construction Partners Trading Up 2.0%

NASDAQ:ROAD opened at $110.36 on Friday. Construction Partners, Inc. has a one year low of $51.63 and a one year high of $110.91. 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 company's 50-day simple moving average is $89.39 and its 200 day simple moving average is $86.12. The firm has a market capitalization of $6.18 billion, a P/E ratio of 103.14, a PEG ratio of 0.99 and a beta of 0.97.

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

Insider Buying and Selling

In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of the company's stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the acquisition, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 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. The trade was a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.

Analyst Ratings Changes

ROAD has been the topic of several research reports. Raymond James lowered their price objective on shares of 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. Robert W. Baird lifted their target price on shares of 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 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.

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