Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Oak Ridge Investments LLC

Oak Ridge Investments LLC lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 2.7% in the fourth quarter, HoldingsChannel reports. The firm owned 66,977 shares of the company’s stock after selling 1,879 shares during the quarter. Oak Ridge Investments LLC’s holdings in Construction Partners were worth $5,925,000 as of its most recent SEC filing.

Several other large investors have 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 worth $954,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners during the 3rd quarter worth $10,377,000. Engle Capital Management L.P. purchased a new stake in Construction Partners during the 2nd quarter worth about $5,742,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after buying an additional 67,150 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of Construction Partners in the 3rd quarter valued at about $778,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CAO Todd Keith Andrews sold 5,489 shares of the company’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at $1,597,464.96. This represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the sale, the director now owns 203,404 shares of the company’s stock, 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 139,225 shares of company stock valued at $13,904,358 over the last ninety days. Corporate insiders own 18.80% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ROAD shares. Raymond James reduced 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 report on Thursday. Robert W. Baird lifted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Construction Partners has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Construction Partners Stock Performance

Shares of ROAD stock opened at $90.23 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The stock’s 50-day moving average price is $93.63 and its 200 day moving average price is $76.09. Construction Partners, Inc. has a 52-week low of $40.85 and a 52-week high of $103.69. The stock has a market capitalization of $5.04 billion, a PE ratio of 68.36, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD) last announced 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). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The business’s quarterly revenue was up 13.3% compared to the same quarter last year. As a group, equities research analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

Construction Partners Company 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.