Sheets Smith Wealth Management Buys Shares of 7,141 Construction Partners, Inc. (NASDAQ:ROAD)

Sheets Smith Wealth Management purchased a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 7,141 shares of the company’s stock, valued at approximately $632,000.

A number of other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in Construction Partners during the fourth quarter worth approximately $31,000. GAMMA Investing LLC boosted its holdings 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 purchasing an additional 171 shares during the last quarter. KBC Group NV grew its position 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. Benjamin F. Edwards & Company Inc. increased its stake in Construction Partners by 55.4% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after purchasing an additional 653 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado purchased a new position in Construction Partners during the second quarter worth about $162,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Activity at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the sale, the chief accounting officer now owns 19,339 shares in the company, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the company’s stock in a transaction on 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 transaction, 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 ownership of the stock. 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

Construction Partners stock opened at $92.78 on Thursday. The company 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, Inc. has a 12 month low of $40.85 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The stock’s 50-day moving average is $93.52 and its 200-day moving average is $76.88.

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. Equities analysts anticipate that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have commented on ROAD. Robert W. Baird lifted their price target on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Raymond James dropped their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research report on Thursday, January 16th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.40.

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.