Conestoga Capital Advisors LLC Reduces Stake in Construction Partners, Inc. (NASDAQ:ROAD)

Conestoga Capital Advisors LLC cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,514,482 shares of the company's stock after selling 14,480 shares during the period. Construction Partners accounts for about 4.1% of Conestoga Capital Advisors LLC's portfolio, making the stock its 3rd biggest position. Conestoga Capital Advisors LLC owned about 6.29% of Construction Partners worth $310,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ROAD. USA Financial Formulas purchased a new stake in shares of Construction Partners during the 4th quarter worth $31,000. Nisa Investment Advisors LLC lifted its holdings in shares of Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after purchasing an additional 433 shares during the period. GAMMA Investing LLC boosted its position in Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company's stock valued at $61,000 after buying an additional 171 shares during the last quarter. KBC Group NV boosted its position in Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after buying an additional 367 shares during the last quarter. Finally, nVerses Capital LLC increased its holdings in Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company's stock worth $174,000 after buying an additional 400 shares during the period. Hedge funds and other institutional investors own 94.83% of the company's stock.

Insider Buying and Selling

In related news, Director Charles E. Owens sold 49,695 shares of the company's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares of the company's stock, valued at $13,134,635.71. This represents a 27.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the stock in a transaction on Monday, December 9th. The shares were sold at an average price of $99.78, for a total value of $1,270,299.18. Following the completion of the sale, the director now owns 17,000 shares in the company, valued at approximately $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 139,225 shares of company stock worth $13,904,358. Insiders own 16.36% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Raymond James cut 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 reaffirmed 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 boosted their price target on Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Three investment 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. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $83.40.

Construction Partners Price Performance

NASDAQ ROAD traded up $3.55 during trading hours on Thursday, reaching $84.47. The company's stock had a trading volume of 713,277 shares, compared to its average volume of 617,306. The firm has a market capitalization of $4.72 billion, a price-to-earnings ratio of 63.99, a P/E/G ratio of 0.99 and a beta of 0.74. The company's 50-day moving average is $90.32 and its two-hundred day moving average is $78.61. 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, Inc. has a 1-year low of $44.77 and a 1-year high of $103.69.

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