Tyro Capital Management LLC Sells 97,499 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Tyro Capital Management LLC cut its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 32.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 201,701 shares of the company's stock after selling 97,499 shares during the period. Construction Partners makes up 4.4% of Tyro Capital Management LLC's holdings, making the stock its 9th biggest holding. Tyro Capital Management LLC owned 0.36% of Construction Partners worth $14,079,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Ninepoint Partners LP acquired a new position in shares of Construction Partners in the 2nd quarter valued at $954,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the third quarter valued at about $10,377,000. Engle Capital Management L.P. purchased a new position in Construction Partners during the second quarter worth about $5,742,000. Allspring Global Investments Holdings LLC increased its position in shares of 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 acquiring an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Construction Partners in the 2nd quarter valued at approximately $674,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Robert W. Baird lifted their target price on shares of Construction Partners from $68.00 to $92.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Three research 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $69.00.

Insider Buying and Selling

In other Construction Partners news, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm's stock in a transaction on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the sale, the director now directly owns 17,000 shares in the company, valued at $1,696,260. This trade represents a 42.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the company's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now directly owns 203,404 shares of the company's stock, valued at approximately $20,610,927.32. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 125,225 shares of company stock valued at $12,593,083 in the last three months. 18.80% of the stock is owned by corporate insiders.

Construction Partners Stock Down 1.2 %

Shares of NASDAQ ROAD traded down $1.12 during midday trading on Friday, hitting $94.84. The company's stock had a trading volume of 389,321 shares, compared to its average volume of 365,019. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The firm has a market capitalization of $5.30 billion, a price-to-earnings ratio of 72.70, a price-to-earnings-growth ratio of 1.18 and a beta of 0.70. The business's fifty day simple moving average is $87.29 and its two-hundred day simple moving average is $69.82. Construction Partners, Inc. has a 1 year low of $39.79 and a 1 year high of $103.69.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued 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 business had revenue of $538.16 million during the quarter, compared to analysts' expectations of $538.04 million. During the same period in the prior year, the business earned $0.59 EPS. The business's quarterly revenue was up 13.3% on a year-over-year basis. On average, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current year.

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.