Balyasny Asset Management L.P. Has $3.50 Million Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Balyasny Asset Management L.P. lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 51.1% during the 4th quarter, HoldingsChannel reports. The fund owned 39,591 shares of the company’s stock after buying an additional 13,397 shares during the period. Balyasny Asset Management L.P.’s holdings in Construction Partners were worth $3,502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of ROAD. USA Financial Formulas bought a new position in shares of Construction Partners during the 4th quarter worth approximately $31,000. Mather Group LLC. bought a new position in shares of Construction Partners during the fourth quarter valued at $33,000. Byrne Asset Management LLC boosted its stake in shares of Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after purchasing an additional 133 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Construction Partners by 400.9% in 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 in the last quarter. Finally, Golden State Wealth Management LLC bought a new stake in shares of Construction Partners in the 4th quarter worth about $50,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ROAD shares. DA Davidson reissued a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. 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. Finally, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th.

Insider Activity at Construction Partners

In other news, CEO Fred Julius Smith III purchased 9,333 shares of the firm’s stock in a transaction that occurred on 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 completion of the acquisition, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. The trade was a ? increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares of the company’s stock, valued at $11,767,689.87. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $95.75 on Monday. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The firm has a market cap of $5.35 billion, a P/E ratio of 89.49, a P/E/G ratio of 0.99 and a beta of 0.87. The firm has a 50 day simple moving average of $77.05 and a 200 day simple moving average of $83.77. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $103.69.

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

Construction Partners Company 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.