Construction Partners, Inc. (NASDAQ:ROAD) Holdings Raised by Legato Capital Management LLC

Legato Capital Management LLC boosted its position in Construction Partners, Inc. (NASDAQ:ROAD) by 40.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,670 shares of the company’s stock after buying an additional 5,620 shares during the quarter. Legato Capital Management LLC’s holdings in Construction Partners were worth $1,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Byrne Asset Management LLC grew its stake in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after buying an additional 133 shares during the last quarter. GAMMA Investing LLC grew its stake in Construction Partners by 24.4% in the 3rd quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares during the last quarter. USA Financial Formulas acquired a new position in Construction Partners in the 4th quarter valued at $31,000. KBC Group NV grew its stake in Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after buying an additional 367 shares during the last quarter. Finally, Mather Group LLC. acquired a new position in Construction Partners in the 4th quarter valued at $33,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Price Performance

NASDAQ:ROAD opened at $81.21 on Wednesday. The company has a 50-day moving average of $89.26 and a 200-day moving average of $79.31. The company has a market capitalization of $4.54 billion, a price-to-earnings ratio of 61.52, a PEG ratio of 1.25 and a beta of 0.74. Construction Partners, Inc. has a 52 week low of $45.22 and a 52 week high of $103.69. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last released its quarterly earnings data on Thursday, November 21st. The company reported $0.56 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 the consensus estimate of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. Construction Partners’s revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.59 earnings per share. As a group, equities research analysts anticipate that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ROAD has been the topic of a number of research analyst reports. Raymond James lowered their target price 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 increased their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a report on Monday. Finally, DA Davidson reissued a “neutral” rating and issued a $95.00 price target 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 assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $85.40.

Insider Activity at Construction Partners

In related news, Director Charles E. Owens sold 46,596 shares of Construction Partners stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $101.33, for a total transaction of $4,721,572.68. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares of the company’s stock, valued at $1,696,260. This represents a 42.82 % 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 ninety days. Insiders own 16.36% of the company’s stock.

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.