Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by TimesSquare Capital Management LLC

TimesSquare Capital Management LLC lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 3.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 256,830 shares of the company’s stock after selling 8,068 shares during the quarter. TimesSquare Capital Management LLC owned 0.46% of Construction Partners worth $22,719,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Peregrine Capital Management LLC acquired a new stake in Construction Partners in the 4th quarter valued at $8,172,000. Allworth Financial LP lifted its holdings in Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock valued at $114,000 after purchasing an additional 160 shares in the last quarter. Manchester Capital Management LLC purchased a new position in Construction Partners in the 4th quarter valued at $118,000. Rhumbline Advisers lifted its holdings in Construction Partners by 0.8% in the 4th quarter. Rhumbline Advisers now owns 59,604 shares of the company’s stock valued at $5,273,000 after purchasing an additional 496 shares in the last quarter. Finally, Legato Capital Management LLC lifted its holdings in Construction Partners by 40.0% in the 4th quarter. Legato Capital Management LLC now owns 19,670 shares of the company’s stock valued at $1,740,000 after purchasing an additional 5,620 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Transactions at Construction Partners

In related news, Director Charles E. Owens sold 46,596 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the sale, the director now directly owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This trade represents a 23.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock worth $13,904,358 in the last quarter. Company insiders own 16.36% of the company’s stock.

Analysts Set New Price Targets

ROAD has been the topic of a number of research reports. Raymond James decreased their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. Robert W. Baird raised 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. Finally, DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $85.40.

Construction Partners Stock Up 1.1 %

NASDAQ ROAD opened at $79.41 on Thursday. Construction Partners, Inc. has a 52 week low of $45.26 and a 52 week high of $103.69. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The business’s fifty day simple moving average is $86.83 and its 200-day simple moving average is $79.93. The firm has a market cap of $4.44 billion, a PE ratio of 74.22, a P/E/G ratio of 1.00 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The company had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. During the same quarter in the prior year, the firm earned $0.59 EPS. The firm’s revenue was up 13.3% on a year-over-year basis. As a group, equities analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current year.

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.