Manchester Capital Management LLC Acquires Shares of 1,338 Construction Partners, Inc. (NASDAQ:ROAD)

Manchester Capital Management LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 1,338 shares of the company’s stock, valued at approximately $118,000.

A number of other hedge funds have also recently bought and sold shares of ROAD. Allspring Global Investments Holdings LLC boosted its position in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares during the last quarter. Fred Alger Management LLC bought a new position in shares of Construction Partners in the 3rd quarter worth $16,535,000. Artemis Investment Management LLP bought a new position in shares of Construction Partners in the 4th quarter worth $18,893,000. Segall Bryant & Hamill LLC bought a new position in shares of Construction Partners in the 3rd quarter worth $10,377,000. Finally, Aubrey Capital Management Ltd bought a new position in shares of Construction Partners in the 3rd quarter worth $4,410,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ROAD. Raymond James reduced their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. DA Davidson restated a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird raised their price target on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three investment 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $85.40.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $77.58 on Friday. The company has a market capitalization of $4.34 billion, a PE ratio of 58.77, a PEG ratio of 1.25 and a beta of 0.74. Construction Partners, Inc. has a 12 month low of $45.26 and a 12 month high of $103.69. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The stock’s fifty day simple moving average is $87.95 and its 200 day simple moving average is $79.54.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (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 firm had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. During the same period in the prior year, the business earned $0.59 EPS. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, research analysts predict that Construction Partners, Inc. will post 1.95 EPS for the current year.

Insider Buying and Selling at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction dated Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Todd Keith Andrews sold 2,511 shares of the firm’s 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 completion of 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 in the last 90 days. 16.36% of the stock is currently owned by company insiders.

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.