Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lessened its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 37.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,294 shares of the company’s stock after selling 2,624 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in Construction Partners were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Gallo Partners LP acquired a new position in Construction Partners in the 4th quarter worth approximately $1,091,000. Northern Trust Corp increased its holdings in Construction Partners by 5.1% in the 4th quarter. Northern Trust Corp now owns 428,291 shares of the company’s stock worth $37,887,000 after buying an additional 20,876 shares during the period. Tudor Investment Corp ET AL acquired a new position in Construction Partners in the 4th quarter worth approximately $391,000. Aquatic Capital Management LLC acquired a new position in Construction Partners in the 4th quarter worth approximately $702,000. Finally, Johnson Financial Group Inc. acquired a new position in Construction Partners in the 4th quarter worth approximately $66,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Construction Partners Trading Down 3.1%

Construction Partners stock opened at $100.19 on Thursday. 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 12 month low of $51.63 and a 12 month high of $104.53. The stock’s 50 day simple moving average is $78.99 and its two-hundred day simple moving average is $84.17. The firm has a market cap of $5.60 billion, a PE ratio of 93.64, a P/E/G ratio of 0.99 and a beta of 0.87.

Construction Partners (NASDAQ:ROAD) last announced its earnings results on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The firm had revenue of $571.65 million for the quarter, compared to analyst estimates of $559.61 million. During the same quarter last year, the firm posted ($0.02) EPS. The business’s revenue was up 53.9% on a year-over-year basis. Analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ROAD shares. DA Davidson reiterated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird upped their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, Raymond James lowered their price objective on Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research report on Tuesday, April 29th.

Insider Activity

In other news, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 16.36% of the company’s stock.

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.