Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 17.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,798 shares of the company's stock after selling 8,207 shares during the quarter. Alberta Investment Management Corp owned 0.07% of Construction Partners worth $3,521,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ROAD. Byrne Asset Management LLC lifted its position in shares of Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after purchasing an additional 133 shares during the period. Allworth Financial LP increased its position in shares of Construction Partners by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock worth $114,000 after purchasing an additional 160 shares in the last quarter. USA Financial Formulas purchased a new stake in shares of Construction Partners during the fourth quarter worth about $31,000. KBC Group NV increased its stake in Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after purchasing an additional 367 shares in the last quarter. Finally, Mather Group LLC. purchased a new position in Construction Partners during the 4th quarter worth approximately $33,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Construction Partners news, 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 transaction of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles E. Owens sold 46,596 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the sale, the director now directly owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 139,225 shares of company stock valued at $13,904,358 in the last three months. 16.36% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROAD. Raymond James decreased their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. 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. Finally, Robert W. Baird raised 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, February 10th. Three investment 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 MarketBeat, Construction Partners presently has a consensus rating of "Moderate Buy" and an average price target of $85.40.

Construction Partners Stock Performance

Shares of ROAD stock traded down $3.80 during mid-day trading on Friday, hitting $73.11. 427,873 shares of the stock were exchanged, compared to its average volume of 621,679. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 68.33, a P/E/G ratio of 1.02 and a beta of 0.74. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. Construction Partners, Inc. has a 12-month low of $46.03 and a 12-month high of $103.69. The stock's fifty day simple moving average is $86.01 and its two-hundred day simple moving average is $80.03.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued 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). The company had revenue of $538.16 million during the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business's revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.59 EPS. On average, analysts forecast that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.