2,404 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Bought by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC bought a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 2,404 shares of the company’s stock, valued at approximately $213,000.

Several other hedge funds also recently bought and sold shares of ROAD. Barclays PLC boosted its holdings in shares of Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company’s stock valued at $7,082,000 after purchasing an additional 53,026 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Construction Partners during the 4th quarter valued at about $18,893,000. Perpetual Ltd boosted its holdings in shares of Construction Partners by 47.0% during the 4th quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock valued at $821,000 after purchasing an additional 2,967 shares during the last quarter. Sheets Smith Wealth Management bought a new position in shares of Construction Partners during the 4th quarter valued at about $632,000. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Construction Partners by 400.9% during the 4th 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 last quarter. Institutional investors own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on ROAD shares. DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird increased their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Raymond James dropped their price objective on shares of Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating for the company in a report on Tuesday, April 29th.

Insider Buying and Selling

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

Construction Partners Stock Up 2.1%

Shares of NASDAQ ROAD opened at $101.14 on Monday. The firm’s 50-day moving average price is $80.27 and its 200-day moving average price is $84.52. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market capitalization of $5.65 billion, a price-to-earnings ratio of 94.52, a P/E/G ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a 12-month low of $51.63 and a 12-month high of $104.53.

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 the consensus estimate of ($0.04) by $0.12. The firm had revenue of $571.65 million for the quarter, compared to analysts’ expectations of $559.61 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business’s revenue was up 53.9% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.02) EPS. On average, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal 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.