Construction Partners, Inc. (NASDAQ:ROAD) Holdings Trimmed by DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main

DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 32.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,636 shares of the company’s stock after selling 6,884 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main’s holdings in Construction Partners were worth $1,295,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management purchased a new position in Construction Partners during the 4th quarter worth approximately $632,000. Artemis Investment Management LLP purchased a new position in Construction Partners during the 4th quarter worth approximately $18,893,000. Washington University acquired a new stake in shares of Construction Partners during the 4th quarter valued at $3,452,000. Barclays PLC boosted its stake in shares of Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company’s stock valued at $7,082,000 after buying an additional 53,026 shares during the period. Finally, KBC Group NV boosted its stake in shares of Construction Partners by 49.5% during the 4th quarter. KBC Group NV now owns 2,118 shares of the company’s stock valued at $187,000 after buying an additional 701 shares during the period. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Construction Partners Stock Up 3.5%

ROAD stock opened at $95.75 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $103.69. The company has a fifty day simple moving average of $77.05 and a 200 day simple moving average of $83.77. The firm has a market cap of $5.35 billion, a PE ratio of 89.49, a PEG ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, topping 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 firm had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. During the same quarter in the previous year, the business earned ($0.02) EPS. The business’s revenue was up 53.9% on a year-over-year basis. Sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 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.