Nisa Investment Advisors LLC Raises Position in Construction Partners, Inc. (NASDAQ:ROAD)

Nisa Investment Advisors LLC increased its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 400.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 541 shares of the company’s stock after purchasing an additional 433 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Construction Partners were worth $48,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. GAMMA Investing LLC grew its position in Construction Partners by 24.4% in the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after acquiring an additional 171 shares in the last quarter. USA Financial Formulas purchased a new position in shares of Construction Partners in the fourth quarter valued at $31,000. KBC Group NV grew its holdings in Construction Partners by 35.0% during the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares in the last quarter. nVerses Capital LLC increased its stake in Construction Partners by 19.0% during the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after buying an additional 400 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in Construction Partners by 8.7% in the 3rd quarter. Benjamin Edwards Inc. now owns 7,419 shares of the company’s stock worth $518,000 after buying an additional 594 shares in the last quarter. 94.83% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on ROAD shares. DA Davidson restated a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday. Raymond James lowered 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. Finally, Robert W. Baird upped their target price on Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. 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. According to data from MarketBeat, Construction Partners presently has an average rating of “Moderate Buy” and an average price target of $83.40.

Insider Activity

In other news, Director Charles E. Owens sold 49,695 shares of Construction Partners 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 approximately $13,134,635.71. The trade was a 27.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the completion of the transaction, the director now directly owns 17,000 shares in the company, valued at $1,696,260. This represents a 42.82 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is currently owned by insiders.

Construction Partners Stock Performance

Shares of Construction Partners stock opened at $80.40 on Friday. 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, Inc. has a 1 year low of $44.70 and a 1 year high of $103.69. The firm’s 50-day simple moving average is $91.84 and its 200-day simple moving average is $77.97. The firm has a market cap of $4.49 billion, a PE ratio of 60.91, a price-to-earnings-growth ratio of 0.98 and a beta of 0.75.

Construction Partners (NASDAQ:ROAD) last announced 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 firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.59 earnings per share. Equities analysts forecast that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

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.