Golden State Wealth Management LLC Acquires New Position in Construction Partners, Inc. (NASDAQ:ROAD)

Golden State Wealth Management LLC bought a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, HoldingsChannel.com reports. The fund bought 563 shares of the company’s stock, valued at approximately $50,000.

A number of other hedge funds have also bought and sold shares of the stock. Sheets Smith Wealth Management purchased a new stake in shares of Construction Partners during the fourth quarter valued at $632,000. Segall Bryant & Hamill LLC acquired a new stake in Construction Partners during the 3rd quarter worth about $10,377,000. Allspring Global Investments Holdings LLC grew its stake in Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after purchasing an additional 67,150 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Construction Partners in the third quarter valued at about $778,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Construction Partners in the fourth quarter valued at about $18,893,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Insider Buying and Selling

In other news, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction that occurred on Friday, December 20th. The stock was 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 directly owns 17,394 shares in the company, valued at $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $94.41, for a total value of $566,460.00. Following the transaction, the senior vice president now owns 154,856 shares in the company, valued at $14,619,954.96. This trade represents a 3.73 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is owned by company insiders.

Construction Partners Trading Down 5.9 %

Shares of NASDAQ:ROAD opened at $81.62 on Tuesday. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a 12-month low of $45.22 and a 12-month high of $103.69. 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 market capitalization of $4.56 billion, a PE ratio of 61.83, a PEG ratio of 1.25 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data 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 firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same period in the previous year, the firm posted $0.59 EPS. The firm’s quarterly revenue was up 13.3% on a year-over-year basis. As a group, analysts forecast that Construction Partners, Inc. will post 1.95 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ROAD shares. Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday. Raymond James dropped 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, DA Davidson reissued a “neutral” rating and set a $95.00 target price 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 issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $85.40.

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.