Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Wealth Alliance

Wealth Alliance reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 5.8% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,778 shares of the company’s stock after selling 294 shares during the quarter. Wealth Alliance’s holdings in Construction Partners were worth $423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Peregrine Capital Management LLC acquired a new stake in Construction Partners during the fourth quarter worth about $8,172,000. Allworth Financial LP increased its position in Construction Partners by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock worth $114,000 after purchasing an additional 160 shares during the last quarter. Manchester Capital Management LLC acquired a new stake in Construction Partners during the fourth quarter worth about $118,000. Rhumbline Advisers increased its position in shares of Construction Partners by 0.8% during the fourth quarter. Rhumbline Advisers now owns 59,604 shares of the company’s stock valued at $5,273,000 after acquiring an additional 496 shares during the last quarter. Finally, Legato Capital Management LLC increased its position in shares of Construction Partners by 40.0% during the fourth quarter. Legato Capital Management LLC now owns 19,670 shares of the company’s stock valued at $1,740,000 after acquiring an additional 5,620 shares during the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Construction Partners

In related news, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares of the company’s stock, valued at $1,853,836.54. This represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,225 shares of company stock worth $13,904,358. Corporate insiders own 16.36% of the company’s stock.

Construction Partners Trading Down 4.9 %

Shares of ROAD stock opened at $73.11 on Friday. 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 stock has a market capitalization of $4.09 billion, a P/E ratio of 68.33, a price-to-earnings-growth ratio of 1.02 and a beta of 0.74. The company has a 50 day moving average price of $86.01 and a 200 day moving average price of $80.03. Construction Partners, Inc. has a fifty-two week low of $46.03 and a fifty-two week high of $103.69.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Equities research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ROAD has been the subject of a number of recent analyst reports. Raymond James dropped their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. DA Davidson reiterated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners has an average rating of “Moderate Buy” and a consensus price target of $85.40.

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.