Conestoga Capital Advisors LLC Has $310.89 Million Position in Construction Partners, Inc. (NASDAQ:ROAD)

Conestoga Capital Advisors LLC lowered its position in Construction Partners, Inc. (NASDAQ:ROAD) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,514,482 shares of the company’s stock after selling 14,480 shares during the period. Construction Partners comprises about 4.1% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 3rd largest holding. Conestoga Capital Advisors LLC owned approximately 0.06% of Construction Partners worth $310,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently made changes to their positions in ROAD. Washington University purchased a new stake in Construction Partners in the 4th quarter valued at about $3,452,000. KBC Group NV increased its position in shares of Construction Partners by 49.5% during the fourth quarter. KBC Group NV now owns 2,118 shares of the company’s stock valued at $187,000 after acquiring an additional 701 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company’s stock worth $48,000 after acquiring an additional 433 shares during the period. Sheets Smith Wealth Management bought a new position in Construction Partners in the 4th quarter valued at $632,000. Finally, Perpetual Ltd raised its stake in shares of Construction Partners by 47.0% during the 4th quarter. Perpetual Ltd now owns 9,277 shares of the company’s stock worth $821,000 after purchasing an additional 2,967 shares during the period. 94.83% of the stock is owned by institutional investors.

Construction Partners Stock Up 0.5 %

Shares of NASDAQ ROAD opened at $80.40 on Monday. The company has a market cap of $4.49 billion, a price-to-earnings ratio of 60.91, a PEG ratio of 0.99 and a beta of 0.74. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The firm’s fifty day moving average is $91.84 and its 200 day moving average is $78.23. Construction Partners, Inc. has a 52 week low of $44.70 and a 52 week high of $103.69.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Construction Partners, Inc. will post 1.95 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ROAD has been the topic of several research reports. Robert W. Baird lifted their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday. Finally, Raymond James lowered their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report 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 stock. Based on data from MarketBeat.com, Construction Partners presently has an average rating of “Moderate Buy” and a consensus target price of $83.40.

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.