Voloridge Investment Management LLC Buys Shares of 56,452 Construction Partners, Inc. (NASDAQ:ROAD)

Voloridge Investment Management LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 56,452 shares of the company's stock, valued at approximately $4,994,000. Voloridge Investment Management LLC owned 0.10% of Construction Partners at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ROAD. Barclays PLC boosted its holdings in shares of Construction Partners by 109.5% in the 3rd quarter. Barclays PLC now owns 101,463 shares of the company's stock valued at $7,082,000 after buying an additional 53,026 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in 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 purchasing an additional 433 shares during the period. KBC Group NV boosted its stake in 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 purchasing an additional 701 shares during the period. Washington University purchased a new position in Construction Partners during the 4th quarter worth $3,452,000. Finally, Calamos Advisors LLC raised its position in Construction Partners by 5.8% during the 4th quarter. Calamos Advisors LLC now owns 33,390 shares of the company's stock worth $2,954,000 after buying an additional 1,827 shares during the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ROAD shares. Robert W. Baird upped their price objective 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. Raymond James lowered their price target on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th.

Construction Partners Trading Up 1.8%

Construction Partners stock traded up $1.89 during trading on Friday, reaching $105.07. The company had a trading volume of 352,246 shares, compared to its average volume of 448,794. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $108.43. The stock's 50 day moving average price is $86.06 and its two-hundred day moving average price is $85.57. The firm has a market capitalization of $5.89 billion, a price-to-earnings ratio of 98.20, a PEG ratio of 0.99 and a beta of 0.87. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

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

Insider Transactions at Construction Partners

In related news, CEO Fred Julius Smith III purchased 9,333 shares of the business's stock in a transaction that occurred on 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 acquisition, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

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.