Price T Rowe Associates Inc. MD Buys 3,943 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Price T Rowe Associates Inc. MD boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 13.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,089 shares of the company's stock after buying an additional 3,943 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.06% of Construction Partners worth $3,016,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings 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 purchasing an additional 1,046,617 shares during the last quarter. FMR LLC grew its stake in shares of Construction Partners by 32.1% during 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 last quarter. Invesco Ltd. increased its holdings in shares of Construction Partners by 75.6% during 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 in the last quarter. Geode Capital Management LLC lifted its stake in shares of Construction Partners by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock valued at $93,617,000 after acquiring an additional 30,362 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Construction Partners by 44.9% during the 4th quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock valued at $74,295,000 after acquiring an additional 260,148 shares in the last quarter. Institutional investors own 94.83% of the company's stock.

Insider Activity at Construction Partners

In related news, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction dated Monday, April 14th. The stock was bought at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction on 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 directly owns 159,389 shares in the company, valued at approximately $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. 16.36% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Raymond James lowered their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. DA Davidson reiterated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Robert W. Baird boosted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.

Construction Partners Trading Up 3.5 %

Shares of ROAD stock traded up $3.28 on Friday, hitting $95.75. The company had a trading volume of 549,649 shares, compared to its average volume of 441,645. Construction Partners, Inc. has a twelve month low of $51.63 and a twelve month high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm has a market cap of $5.35 billion, a P/E ratio of 89.49, a P/E/G ratio of 0.99 and a beta of 0.87. The stock's 50-day moving average is $77.05 and its two-hundred day moving average is $83.72.

Construction Partners (NASDAQ:ROAD - Get Free Report) last released its 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. 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 the consensus estimate of $559.61 million. During the same quarter in the prior year, the firm posted ($0.02) EPS. The company's revenue for the quarter was up 53.9% compared to the same quarter last year. On average, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.