Construction Partners, Inc. (NASDAQ:ROAD) Shares Bought by Byrne Asset Management LLC

Byrne Asset Management LLC increased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 33.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 533 shares of the company’s stock after buying an additional 133 shares during the quarter. Byrne Asset Management LLC’s holdings in Construction Partners were worth $47,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares during the last quarter. USA Financial Formulas bought a new position in Construction Partners in the 4th quarter worth about $31,000. KBC Group NV increased its stake in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the period. Mather Group LLC. bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $33,000. Finally, nVerses Capital LLC boosted its position in shares of Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after buying an additional 400 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Construction Partners Stock Up 2.7 %

ROAD opened at $86.76 on Friday. The stock’s fifty day moving average is $90.02 and its 200-day moving average is $78.78. Construction Partners, Inc. has a one year low of $44.77 and a one year high of $103.69. The company has a market capitalization of $4.85 billion, a PE ratio of 65.73, a P/E/G ratio of 1.25 and a beta of 0.74. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings results 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 3.78% and a return on equity of 12.90%. Construction Partners’s revenue was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 earnings per share. On average, equities analysts predict that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Robert W. Baird lifted their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reiterated a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.40.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the transaction, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the sale, the director now directly owns 17,000 shares in the company, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock worth $13,904,358 in the last three months. 16.36% of the stock is currently owned by insiders.

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.