Northern Trust Corp Acquires 20,876 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Northern Trust Corp lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 5.1% during the fourth quarter, HoldingsChannel reports. The firm owned 428,291 shares of the company’s stock after purchasing an additional 20,876 shares during the period. Northern Trust Corp’s holdings in Construction Partners were worth $37,887,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ROAD. Barclays PLC increased its position in shares of Construction Partners by 109.5% during the third quarter. Barclays PLC now owns 101,463 shares of the company’s stock worth $7,082,000 after acquiring an additional 53,026 shares during the period. USA Financial Formulas bought a new position in Construction Partners in the fourth quarter worth approximately $31,000. Artemis Investment Management LLP purchased a new position in Construction Partners during the 4th quarter worth $18,893,000. Perpetual Ltd raised its position in 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 in the last quarter. Finally, Sheets Smith Wealth Management purchased a new stake in shares of Construction Partners in the 4th quarter worth $632,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Price Performance

Shares of ROAD stock opened at $95.75 on Friday. The company has a market cap of $5.35 billion, a P/E ratio of 89.49, a PEG ratio of 0.99 and a beta of 0.87. 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 stock’s 50-day moving average is $77.05 and its 200 day moving average is $83.72. Construction Partners, Inc. has a 1-year low of $51.63 and a 1-year high of $103.69.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same quarter in the previous year, the firm earned ($0.02) EPS. The company’s quarterly revenue was up 53.9% compared to the same quarter last year. Research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Construction Partners

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

Analyst Ratings Changes

Several analysts recently weighed in on ROAD shares. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Raymond James reduced their price target 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, DA Davidson reiterated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th.

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.