Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Deutsche Bank AG

Deutsche Bank AG decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 31.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,846 shares of the company’s stock after selling 17,835 shares during the period. Deutsche Bank AG owned 0.07% of Construction Partners worth $3,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Corton Capital Inc. acquired a new position in Construction Partners during the fourth quarter worth approximately $266,000. Captrust Financial Advisors increased its position in Construction Partners by 5.6% during the fourth quarter. Captrust Financial Advisors now owns 7,761 shares of the company’s stock worth $687,000 after purchasing an additional 412 shares during the last quarter. Balyasny Asset Management L.P. increased its position in Construction Partners by 51.1% during the fourth quarter. Balyasny Asset Management L.P. now owns 39,591 shares of the company’s stock worth $3,502,000 after purchasing an additional 13,397 shares during the last quarter. Bank of America Corp DE increased its position in Construction Partners by 2.6% during the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company’s stock worth $98,991,000 after purchasing an additional 28,723 shares during the last quarter. Finally, Gallo Partners LP acquired a new stake in shares of Construction Partners in the fourth quarter worth $1,091,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

ROAD has been the subject of several recent research reports. Raymond James dropped their price objective on shares of Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating for the company in a research report on Tuesday, April 29th. Robert W. Baird upped their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, DA Davidson restated a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of the business’s stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by corporate insiders.

Construction Partners Trading Down 0.2%

NASDAQ ROAD opened at $101.85 on Wednesday. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $104.53. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 95.19, a price-to-earnings-growth ratio of 0.99 and a beta of 0.87. The company’s fifty day moving average price is $81.57 and its two-hundred day moving average price is $84.81.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.12. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The firm had revenue of $571.65 million for the quarter, compared to the consensus estimate of $559.61 million. During the same period in the prior year, the firm posted ($0.02) EPS. The firm’s revenue was up 53.9% compared to the same quarter last year. As a group, research analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.