TimesSquare Capital Management LLC Lowers Position in Construction Partners, Inc. (NASDAQ:ROAD)

TimesSquare Capital Management LLC decreased its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 3.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 256,830 shares of the company's stock after selling 8,068 shares during the quarter. TimesSquare Capital Management LLC owned 0.46% of Construction Partners worth $22,719,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of ROAD. USA Financial Formulas bought a new position in shares of Construction Partners during the fourth quarter worth about $31,000. Mather Group LLC. acquired a new position in shares of Construction Partners during the 4th quarter worth approximately $33,000. Byrne Asset Management LLC increased its holdings in shares of Construction Partners by 33.3% during the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Construction Partners in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Performance

Shares of NASDAQ:ROAD traded down $3.60 during midday trading on Friday, reaching $73.32. The company had a trading volume of 205,734 shares, compared to its average volume of 614,929. The company's 50 day moving average price is $86.45 and its 200 day moving average price is $79.91. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock has a market cap of $4.10 billion, a P/E ratio of 68.52, a P/E/G ratio of 1.02 and a beta of 0.74. Construction Partners, Inc. has a 52-week low of $46.03 and a 52-week 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 analysts' consensus estimates of $0.57 by ($0.01). Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm had revenue of $538.16 million for the quarter, compared to analysts' expectations of $538.04 million. During the same period in the prior year, the company earned $0.59 EPS. The firm's quarterly revenue was up 13.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Insider Activity

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the sale, the chief accounting officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Charles E. Owens sold 46,596 shares of the firm's stock in a transaction dated 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. Over the last three months, insiders sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on ROAD shares. Raymond James reduced their target price on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th. Robert W. Baird increased 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. Finally, DA Davidson reiterated a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Construction Partners currently has a consensus rating of "Moderate Buy" and an average target price of $85.40.

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.