Washington University Makes New Investment in Construction Partners, Inc. (NASDAQ:ROAD)

by · The Markets Daily

Washington University acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD – Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 39,026 shares of the company’s stock, valued at approximately $3,452,000. Construction Partners accounts for 2.9% of Washington University’s portfolio, making the stock its 3rd biggest holding. Washington University owned 0.07% of Construction Partners as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. KBC Group NV increased its stake in Construction Partners by 49.5% during the fourth quarter. KBC Group NV now owns 2,118 shares of the company’s stock valued at $187,000 after acquiring an additional 701 shares during the period. Nisa Investment Advisors LLC increased its position in shares of Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock valued at $48,000 after purchasing an additional 433 shares during the period. Sheets Smith Wealth Management acquired a new position in shares of Construction Partners in the fourth quarter valued at $632,000. Perpetual Ltd lifted its position in Construction Partners by 47.0% in the fourth quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock worth $821,000 after purchasing an additional 2,967 shares during the period. Finally, Artemis Investment Management LLP acquired a new stake in Construction Partners during the fourth quarter worth $18,893,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ROAD. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday. Robert W. Baird raised 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. Finally, Raymond James lowered their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three investment 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.40.

Check Out Our Latest Stock Report on Construction Partners

Construction Partners Trading Up 0.5 %

Shares of ROAD stock opened at $80.40 on Friday. The company has a market capitalization of $4.49 billion, a P/E ratio of 60.91, a P/E/G ratio of 0.98 and a beta of 0.75. Construction Partners, Inc. has a 12-month low of $44.70 and a 12-month high of $103.69. 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 firm has a 50-day moving average price of $91.84 and a 200 day moving average price of $78.09.

Construction Partners (NASDAQ:ROAD – Get Free Report) last posted its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business’s revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.59 EPS. Research analysts forecast that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Insider Buying and Selling at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the sale, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares in the company, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is currently owned by corporate insiders.

Construction Partners Profile

(Free Report)

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.

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