213,575 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Acquired by Artemis Investment Management LLP

Artemis Investment Management LLP bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, HoldingsChannel reports. The fund bought 213,575 shares of the company’s stock, valued at approximately $18,893,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC acquired a new position in shares of Construction Partners during the second quarter valued at $342,000. Federated Hermes Inc. increased its stake in Construction Partners by 11.5% during the 2nd quarter. Federated Hermes Inc. now owns 25,155 shares of the company’s stock valued at $1,389,000 after buying an additional 2,597 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after buying an additional 24,828 shares in the last quarter. Hsbc Holdings PLC raised its position in shares of Construction Partners by 86.6% during the 2nd quarter. Hsbc Holdings PLC now owns 11,447 shares of the company’s stock worth $635,000 after buying an additional 5,313 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. lifted its stake in shares of Construction Partners by 55.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock worth $101,000 after acquiring an additional 653 shares during the period. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on ROAD. Robert W. Baird raised their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Raymond James lowered their price target on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $75.40.

Construction Partners Stock Down 1.1 %

NASDAQ ROAD opened at $90.23 on Friday. Construction Partners, Inc. has a 12 month low of $40.85 and a 12 month high of $103.69. The company has a market capitalization of $5.04 billion, a P/E ratio of 68.36, a PEG ratio of 1.05 and a beta of 0.75. The company’s 50 day simple moving average is $93.63 and its 200 day simple moving average is $76.09. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results 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). The company had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. Construction Partners’s quarterly revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.59 EPS. Equities research analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Transactions at Construction Partners

In related news, Director Charles E. Owens sold 46,596 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 203,404 shares of the company’s stock, valued at approximately $20,610,927.32. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. The trade was a 11.49 % 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 18.80% of the company’s stock.

Construction Partners Company 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.