Perpetual Ltd Raises Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Perpetual Ltd boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 47.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,277 shares of the company’s stock after purchasing an additional 2,967 shares during the quarter. Perpetual Ltd’s holdings in Construction Partners were worth $821,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ROAD. Ninepoint Partners LP acquired a new position in shares of Construction Partners in the second quarter valued at approximately $954,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the 3rd quarter valued at $10,377,000. Engle Capital Management L.P. purchased a new position in shares of Construction Partners during the 2nd quarter worth $5,742,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Construction Partners in the third quarter valued at $778,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of the business’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the transaction, the director now owns 203,404 shares in the company, valued at $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the sale, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at $1,853,836.54. The trade was a 11.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is currently owned by corporate insiders.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD opened at $92.78 on Thursday. The business has a 50-day moving average of $93.52 and a two-hundred day moving average of $76.88. The firm has a market capitalization of $5.18 billion, a PE ratio of 70.29, a P/E/G ratio of 1.11 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. Construction Partners, Inc. has a 12 month low of $40.85 and a 12 month high of $103.69.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, research analysts forecast that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

ROAD has been the topic of several recent analyst reports. Raymond James decreased their price target on 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. Robert W. Baird raised their target price on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

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.