Alberta Investment Management Corp Sells 8,207 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Alberta Investment Management Corp lowered its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 17.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 39,798 shares of the company’s stock after selling 8,207 shares during the period. Alberta Investment Management Corp owned approximately 0.07% of Construction Partners worth $3,521,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock worth $54,104,000 after acquiring an additional 408,610 shares during the period. Fred Alger Management LLC acquired a new stake in Construction Partners during the 3rd quarter worth approximately $16,535,000. Artemis Investment Management LLP bought a new stake in Construction Partners in the 4th quarter valued at $18,893,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners in the 3rd quarter valued at $10,377,000. Finally, Peregrine Capital Management LLC bought a new position in Construction Partners during the 4th quarter worth $8,172,000. 94.83% of the stock is owned by institutional investors.

Insider Transactions at Construction Partners

In other news, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the transaction, the director now owns 17,000 shares in the company, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now directly owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This trade represents a 27.61 % 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 valued at $13,904,358. Company insiders own 16.36% of the company’s stock.

Construction Partners Stock Down 3.1 %

Shares of NASDAQ ROAD opened at $76.91 on Friday. The stock has a market capitalization of $4.30 billion, a P/E ratio of 71.88, a PEG ratio of 1.01 and a beta of 0.74. The stock’s fifty day moving average is $86.45 and its 200 day moving average is $79.91. Construction Partners, Inc. has a 52 week low of $45.45 and a 52 week high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data 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 firm 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 11.94% and a net margin of 2.82%. The company’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. Sell-side analysts forecast that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. Raymond James cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a report on Thursday, January 16th. Finally, DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.40.

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.