Byrne Asset Management LLC Acquires 133 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Byrne Asset Management LLC lifted its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 33.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 533 shares of the company’s stock after buying an additional 133 shares during the period. Byrne Asset Management LLC’s holdings in Construction Partners were worth $47,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp increased its position in Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after buying an additional 26,189 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Construction Partners by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock valued at $31,634,000 after acquiring an additional 4,009 shares in the last quarter. Fred Alger Management LLC acquired a new stake in Construction Partners in the 3rd quarter worth approximately $16,535,000. Artemis Investment Management LLP bought a new stake in Construction Partners during the fourth quarter worth approximately $18,893,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in Construction Partners by 47.9% during the third 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. Institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Performance

NASDAQ:ROAD opened at $86.76 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The firm’s 50-day moving average is $90.02 and its 200-day moving average is $78.78. Construction Partners, Inc. has a 52-week low of $44.77 and a 52-week high of $103.69. The company has a market cap of $4.85 billion, a price-to-earnings ratio of 65.73, a PEG ratio of 1.25 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 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 last year, the company earned $0.59 EPS. The company’s revenue was up 13.3% on a year-over-year basis. Equities research analysts anticipate that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ROAD. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James decreased their price target on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird lifted their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $83.40.

Insider Buying and Selling

In other news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction on 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 transaction, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now owns 154,856 shares in the company, valued at approximately $14,619,954.96. This trade represents a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 139,225 shares of company stock valued at $13,904,358 over the last ninety days. 16.36% of the stock is owned by company insiders.

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.