Construction Partners, Inc. (NASDAQ:ROAD) is Catawba River Capital’s Largest Position

Catawba River Capital trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,657 shares of the company’s stock after selling 2,961 shares during the quarter. Construction Partners makes up about 16.3% of Catawba River Capital’s portfolio, making the stock its biggest holding. Catawba River Capital’s holdings in Construction Partners were worth $27,304,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in ROAD. USA Financial Formulas purchased a new position in shares of Construction Partners during the 4th quarter valued at approximately $31,000. Mather Group LLC. purchased a new position in Construction Partners during the fourth quarter valued at $33,000. Byrne Asset Management LLC grew its position in shares of Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after purchasing an additional 133 shares during the period. Nisa Investment Advisors LLC raised its position 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 worth $48,000 after purchasing an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Construction Partners in the 4th quarter valued at about $50,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Stock Down 5.9 %

Shares of NASDAQ ROAD opened at $81.62 on Tuesday. The business has a 50-day moving average of $89.65 and a two-hundred day moving average of $79.18. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The company has a market capitalization of $4.56 billion, a price-to-earnings ratio of 61.83, a price-to-earnings-growth ratio of 1.25 and a beta of 0.74. Construction Partners, Inc. has a 1 year low of $45.22 and a 1 year high of $103.69.

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

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of recent research reports. DA Davidson restated a “neutral” rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James reduced their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $85.40.

Insider Activity

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

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.