Aubrey Capital Management Ltd Sells 10,500 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Aubrey Capital Management Ltd lessened its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 16.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,700 shares of the company's stock after selling 10,500 shares during the period. Construction Partners accounts for 1.8% of Aubrey Capital Management Ltd's holdings, making the stock its 14th biggest holding. Aubrey Capital Management Ltd owned about 0.09% of Construction Partners worth $4,663,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp raised its stake 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. increased its stake in Construction Partners by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company's stock valued at $31,634,000 after purchasing an additional 4,009 shares in the last quarter. Fred Alger Management LLC bought a new stake in Construction Partners in the third quarter valued at $16,535,000. Artemis Investment Management LLP bought a new stake in Construction Partners in the fourth quarter valued at $18,893,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Construction Partners by 47.9% in 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 in the last quarter. Institutional investors own 94.83% of the company's stock.

Construction Partners Stock Down 2.7 %

Shares of NASDAQ ROAD traded down $2.17 during mid-day trading on Thursday, reaching $78.43. 706,180 shares of the company's stock traded hands, compared to its average volume of 649,454. The stock has a market cap of $4.38 billion, a P/E ratio of 59.42, a PEG ratio of 1.25 and a beta of 0.74. The business has a 50-day simple moving average of $88.43 and a 200 day simple moving average of $79.31. Construction Partners, Inc. has a 1-year low of $45.26 and a 1-year high of $103.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The business had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, analysts expect that Construction Partners, Inc. will post 1.95 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target 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 research note on Thursday, January 16th. Finally, Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $85.40.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 5,489 shares of the business's stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles E. Owens sold 49,695 shares of the business's 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 transaction, the director now owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is owned by 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.