Perpetual Ltd Boosts Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Perpetual Ltd lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 47.0% during the fourth quarter, Holdings Channel reports. 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 SEC filing.

Several other institutional investors have also modified their holdings of ROAD. USA Financial Formulas purchased a new stake in Construction Partners during the 4th quarter worth approximately $31,000. GAMMA Investing LLC increased its stake in shares of Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after buying an additional 171 shares during the last quarter. KBC Group NV raised its holdings in 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 acquiring an additional 367 shares in the last quarter. Benjamin F. Edwards & Company Inc. boosted its stake in Construction Partners by 55.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new position in Construction Partners during the 2nd quarter worth $162,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Transactions 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 value of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares in the company, valued at $1,696,260. The trade was a 42.82 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Charles E. Owens sold 49,695 shares of the company’s stock in a transaction on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 139,225 shares of company stock valued at $13,904,358. Company insiders own 18.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on ROAD shares. Robert W. Baird increased their price target 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. Raymond James reduced their target price on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.40.

Construction Partners Price Performance

ROAD opened at $92.78 on Thursday. 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 company’s 50-day moving average price is $93.52 and its 200 day moving average price is $76.88. Construction Partners, Inc. has a fifty-two week low of $40.85 and a fifty-two week high of $103.69. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 70.29, a price-to-earnings-growth ratio of 1.11 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results 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 the consensus estimate 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 for the quarter was up 13.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.59 EPS. As a group, sell-side analysts expect that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

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.