USA Financial Formulas Invests $31,000 in Construction Partners, Inc. (NASDAQ:ROAD)

USA Financial Formulas purchased a new position in Construction Partners, Inc. (NASDAQ:ROAD) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 349 shares of the company’s stock, valued at approximately $31,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROAD. State Street Corp lifted its holdings in Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after buying an additional 26,189 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Construction Partners by 2.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock valued at $53,687,000 after acquiring an additional 24,828 shares in the last quarter. Driehaus Capital Management LLC raised its position in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after acquiring an additional 137,572 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Construction Partners by 16.1% during the second quarter. Hood River Capital Management LLC now owns 476,021 shares of the company’s stock worth $26,281,000 after purchasing an additional 66,021 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Construction Partners by 0.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 453,212 shares of the company’s stock worth $31,634,000 after purchasing an additional 4,009 shares during the period. 94.83% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Raymond James dropped 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 report on Thursday. Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.40.

Construction Partners Stock Performance

ROAD stock opened at $90.23 on Friday. Construction Partners, Inc. has a 1 year low of $40.85 and a 1 year high of $103.69. The stock has a market capitalization of $5.04 billion, a price-to-earnings ratio of 68.36, a PEG ratio of 1.05 and a beta of 0.75. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.26 and a current ratio of 1.54. The stock’s fifty day moving average is $93.63 and its two-hundred day moving average is $75.93.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.59 earnings per share. On average, research analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current year.

Insider Activity

In other news, Director Charles E. Owens sold 49,695 shares of the 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 completion of the transaction, the director now owns 130,291 shares of the company’s stock, valued at approximately $13,134,635.71. This represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction dated 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 owns 19,339 shares in the company, valued at approximately $1,853,836.54. This represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,225 shares of company stock valued at $13,904,358. Insiders own 18.80% of the company’s stock.

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.