Washington University Purchases Shares of 39,026 Construction Partners, Inc. (NASDAQ:ROAD)

Washington University purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 39,026 shares of the company's stock, valued at approximately $3,452,000. Construction Partners comprises approximately 2.9% of Washington University's investment portfolio, making the stock its 3rd largest position. Washington University owned approximately 0.07% of Construction Partners as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Sheets Smith Wealth Management purchased a new stake in shares of Construction Partners during the 4th quarter worth approximately $632,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the 3rd quarter valued at $10,377,000. Allspring Global Investments Holdings LLC increased its stake in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company's stock valued at $14,478,000 after buying an additional 67,150 shares during the period. Intech Investment Management LLC acquired a new position in Construction Partners in the 3rd quarter valued at $778,000. Finally, Artemis Investment Management LLP acquired a new position in shares of Construction Partners during the 4th quarter worth $18,893,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Transactions at Construction Partners

In other 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 transaction of $240,704.46. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles E. Owens sold 46,596 shares of the firm'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 sale, the director now directly owns 203,404 shares of the company's stock, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 139,225 shares of company stock valued at $13,904,358 over the last three months. Company insiders own 16.36% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ROAD shares. Raymond James lowered 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. Robert W. Baird raised their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Finally, DA Davidson restated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $83.40.

Construction Partners Stock Down 1.5 %

NASDAQ:ROAD traded down $1.23 during mid-day trading on Wednesday, reaching $80.73. The stock had a trading volume of 282,086 shares, compared to its average volume of 602,476. 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 stock's 50 day simple moving average is $91.06 and its two-hundred day simple moving average is $78.55. Construction Partners, Inc. has a 1-year low of $44.77 and a 1-year high of $103.69. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 61.27, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings results on Thursday, November 21st. The company reported $0.56 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The business 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 company's revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 EPS. Equities analysts anticipate that Construction Partners, Inc. will post 1.95 EPS for the current year.

About Construction Partners

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.