Pinnacle Financial Partners Inc Takes Position in Construction Partners, Inc. (NASDAQ:ROAD)

Pinnacle Financial Partners Inc bought a new stake in Construction Partners, Inc. (NASDAQ:ROAD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,367 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in ROAD. USA Financial Formulas purchased a new position in Construction Partners during the fourth quarter worth approximately $31,000. Mather Group LLC. purchased a new position in Construction Partners during the fourth quarter worth approximately $33,000. Byrne Asset Management LLC lifted its position in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock worth $47,000 after buying an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted its position 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 buying an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in Construction Partners during the fourth quarter worth approximately $50,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ROAD. Robert W. Baird lifted their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. DA Davidson reiterated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James dropped their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Trading Down 4.9 %

ROAD opened at $73.11 on Monday. Construction Partners, Inc. has a 12 month low of $46.03 and a 12 month high of $103.69. The stock has a market capitalization of $4.09 billion, a price-to-earnings ratio of 68.33, a PEG ratio of 0.99 and a beta of 0.74. 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 business has a fifty day moving average price of $86.01 and a 200 day moving average price of $80.36.

Construction Partners (NASDAQ:ROAD) last released its earnings results 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 return on equity of 11.94% and a net margin of 2.82%. The company had revenue of $538.16 million for the quarter, compared to analyst estimates of $538.04 million. During the same period in the previous year, the firm earned $0.59 earnings per share. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. Sell-side analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Charles E. Owens sold 46,596 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was 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. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares of the company’s stock, valued at $1,597,464.96. The trade was a 23.99 % 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 three months. 16.36% of the stock is owned by corporate insiders.

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.