Peregrine Capital Management LLC Purchases Shares of 92,383 Construction Partners, Inc. (NASDAQ:ROAD)

Peregrine Capital Management LLC acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 92,383 shares of the company's stock, valued at approximately $8,172,000. Peregrine Capital Management LLC owned approximately 0.17% of Construction Partners at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp boosted its stake in Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company's stock worth $70,140,000 after purchasing an additional 26,189 shares during the period. Allspring Global Investments Holdings LLC increased its position in Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock valued at $54,104,000 after acquiring an additional 408,610 shares during the period. Charles Schwab Investment Management Inc. increased its position in Construction Partners by 0.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company's stock valued at $31,634,000 after acquiring an additional 4,009 shares during the period. Fred Alger Management LLC acquired a new position in Construction Partners in the 3rd quarter valued at about $16,535,000. Finally, Artemis Investment Management LLP acquired a new position in Construction Partners in the 4th quarter valued at about $18,893,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Transactions at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares in the company, valued at $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Todd Keith Andrews sold 5,489 shares of the business's stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the transaction, the chief accounting officer now directly owns 17,394 shares of the company's stock, valued at approximately $1,597,464.96. This trade represents a 23.99 % 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 90 days. 16.36% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Robert W. Baird increased their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. DA Davidson reaffirmed a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James dropped 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 note on Thursday, January 16th. Three investment 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $85.40.

Construction Partners Price Performance

Shares of ROAD traded down $3.80 during trading hours on Friday, reaching $73.11. The company had a trading volume of 427,873 shares, compared to its average volume of 621,679. The firm has a 50 day simple moving average of $86.45 and a 200-day simple moving average of $79.91. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of 68.33, a PEG ratio of 1.02 and a beta of 0.74. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 12-month low of $46.03 and a 12-month high of $103.69.

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 the consensus estimate of $0.57 by ($0.01). Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The firm had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period in the prior year, the firm posted $0.59 earnings per share. The business's revenue for the quarter was up 13.3% compared to the same quarter last year. Research analysts expect that Construction Partners, Inc. will post 1.96 earnings per share 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.