Northern Trust Corp Buys 20,876 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Northern Trust Corp lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 5.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 428,291 shares of the company's stock after acquiring an additional 20,876 shares during the quarter. Northern Trust Corp owned approximately 0.77% of Construction Partners worth $37,887,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ROAD. Barclays PLC boosted its position in shares of Construction Partners by 109.5% in the third quarter. Barclays PLC now owns 101,463 shares of the company's stock worth $7,082,000 after purchasing an additional 53,026 shares during the period. USA Financial Formulas bought a new position in Construction Partners in the 4th quarter worth $31,000. Artemis Investment Management LLP purchased a new stake in Construction Partners in the 4th quarter worth $18,893,000. Perpetual Ltd raised its holdings in Construction Partners by 47.0% during the fourth quarter. Perpetual Ltd now owns 9,277 shares of the company's stock valued at $821,000 after acquiring an additional 2,967 shares during the period. Finally, Sheets Smith Wealth Management purchased a new position in shares of Construction Partners in the fourth quarter valued at about $632,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $95.75 on Friday. The firm has a fifty day simple moving average of $77.05 and a two-hundred day simple moving average of $83.72. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $5.35 billion, a P/E ratio of 89.49, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 52 week low of $51.63 and a 52 week high of $103.69.

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

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the business'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 transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Fred Julius Smith III bought 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the purchase, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Robert W. Baird increased 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. Raymond James lowered their target price on shares of Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating on the stock in a report on Tuesday, April 29th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.