Construction Partners, Inc. (NASDAQ:ROAD) is Tyro Capital Management LLC’s 9th Largest Position

Tyro Capital Management LLC trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 32.6% during the third quarter, HoldingsChannel.com reports. The fund owned 201,701 shares of the company’s stock after selling 97,499 shares during the period. Construction Partners makes up approximately 4.4% of Tyro Capital Management LLC’s holdings, making the stock its 9th largest holding. Tyro Capital Management LLC’s holdings in Construction Partners were worth $14,079,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ROAD. Clearbridge Investments LLC purchased a new stake in shares of Construction Partners in the second quarter valued at about $20,360,000. Fred Alger Management LLC purchased a new stake in Construction Partners during the 3rd quarter valued at approximately $16,535,000. Segall Bryant & Hamill LLC acquired a new stake in Construction Partners during the 3rd quarter worth approximately $10,377,000. Driehaus Capital Management LLC grew its stake in shares of Construction Partners by 31.9% in the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after purchasing an additional 137,572 shares during the last quarter. Finally, Conestoga Capital Advisors LLC increased its holdings in shares of Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after purchasing an additional 120,155 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird increased their price target on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $69.00.

Insider Activity at Construction Partners

In related news, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction on Monday, December 9th. The stock was sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the completion of the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at approximately $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the sale, the director now directly owns 203,404 shares in the company, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 125,225 shares of company stock worth $12,593,083 over the last 90 days. Company insiders own 18.80% of the company’s stock.

Construction Partners Stock Performance

NASDAQ ROAD opened at $95.96 on Friday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The business’s 50 day moving average is $87.29 and its two-hundred day moving average is $69.82. The stock has a market capitalization of $5.36 billion, a price-to-earnings ratio of 72.70, a PEG ratio of 1.18 and a beta of 0.70. Construction Partners, Inc. has a 12-month low of $39.79 and a 12-month high of $103.69.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.01). The business had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company’s revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.59 EPS. Research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.