Oak Ridge Investments LLC Reduces Position in Construction Partners, Inc. (NASDAQ:ROAD)

Oak Ridge Investments LLC trimmed its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 66,977 shares of the company’s stock after selling 1,879 shares during the period. Oak Ridge Investments LLC owned about 0.12% of Construction Partners worth $5,925,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ROAD. Ninepoint Partners LP bought a new position in shares of Construction Partners during the second quarter valued at approximately $954,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners in the 3rd quarter valued at $10,377,000. Engle Capital Management L.P. purchased a new stake in Construction Partners in the second quarter worth $5,742,000. Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Finally, Intech Investment Management LLC purchased a new stake in shares of Construction Partners during the third quarter valued at $778,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Construction Partners Price Performance

ROAD opened at $90.23 on Friday. The firm has a market capitalization of $5.04 billion, a PE ratio of 68.36, a price-to-earnings-growth ratio of 1.05 and a beta of 0.75. 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 business’s 50-day moving average is $93.63 and its two-hundred day moving average is $76.09. Construction Partners, Inc. has a 1 year low of $40.85 and a 1 year high of $103.69.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data 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 net margin of 3.78% and a return on equity of 12.90%. The business 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 company posted $0.59 EPS. The business’s revenue for the quarter was up 13.3% on a year-over-year basis. Research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Activity

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares of the company’s stock, valued at $1,853,836.54. The trade was a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock valued at $13,904,358 over the last ninety days. 18.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ROAD shares. Robert W. Baird boosted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Raymond James lowered their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $75.40.

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.