Legato Capital Management LLC Purchases 5,620 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Legato Capital Management LLC grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 40.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 19,670 shares of the company's stock after buying an additional 5,620 shares during the quarter. Legato Capital Management LLC's holdings in Construction Partners were worth $1,740,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management bought a new position in Construction Partners during the fourth quarter valued at approximately $632,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners in the third quarter worth approximately $10,377,000. Allspring Global Investments Holdings LLC raised its position 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 worth $14,478,000 after acquiring an additional 67,150 shares during the period. Intech Investment Management LLC bought a new position in Construction Partners in the third quarter worth approximately $778,000. Finally, Artemis Investment Management LLP bought a new position in Construction Partners in the fourth quarter worth approximately $18,893,000. Institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on ROAD. Raymond James decreased their price target on shares of 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. Robert W. Baird increased their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, DA Davidson restated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. 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. Based on data from MarketBeat, Construction Partners has an average rating of "Moderate Buy" and an average price target of $85.40.

Construction Partners Price Performance

ROAD traded down $0.85 during trading on Friday, hitting $77.58. 474,319 shares of the company traded hands, compared to its average volume of 649,282. The company has a market cap of $4.34 billion, a PE ratio of 58.77, a P/E/G ratio of 1.25 and a beta of 0.74. The stock's 50-day simple moving average is $87.95 and its two-hundred day simple moving average is $79.42. Construction Partners, Inc. has a 1 year low of $45.26 and a 1 year 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.

Construction Partners (NASDAQ:ROAD - Get Free Report) last posted its 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 analysts' expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The business's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on 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 directly owns 19,339 shares of the company's stock, valued at $1,853,836.54. This trade represents a 11.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the transaction, the senior vice president now directly owns 154,856 shares of the company's stock, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. 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. Corporate insiders own 16.36% of the company's stock.

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.