Calamos Advisors LLC Boosts Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Calamos Advisors LLC increased its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 33,390 shares of the company’s stock after purchasing an additional 1,827 shares during the quarter. Calamos Advisors LLC’s holdings in Construction Partners were worth $2,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC boosted its stake in Construction Partners by 25.0% in the 2nd quarter. AQR Capital Management LLC now owns 9,574 shares of the company’s stock worth $529,000 after purchasing an additional 1,912 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Construction Partners by 7.5% in the second quarter. The Manufacturers Life Insurance Company now owns 23,570 shares of the company’s stock worth $1,301,000 after buying an additional 1,649 shares in the last quarter. Algert Global LLC bought a new position in shares of Construction Partners in the second quarter valued at approximately $244,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Construction Partners during the second quarter valued at approximately $1,601,000. Finally, SG Americas Securities LLC bought a new stake in Construction Partners during the 3rd quarter worth approximately $887,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Raymond James cut their price target 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. Robert W. Baird boosted their target price on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. 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 stock has an average rating of “Moderate Buy” and an average target price of $83.40.

Insiders Place Their Bets

In other Construction Partners news, Director Charles E. Owens sold 46,596 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the completion of the sale, the director now owns 203,404 shares in the company, valued at approximately $20,610,927.32. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Todd Keith Andrews sold 5,489 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Stock Up 2.7 %

ROAD opened at $81.95 on Wednesday. The business’s fifty day simple moving average is $91.06 and its 200 day simple moving average is $78.55. Construction Partners, Inc. has a 52 week low of $44.77 and a 52 week high of $103.69. 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 stock has a market cap of $4.58 billion, a PE ratio of 62.08, a P/E/G ratio of 0.99 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last announced 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). The firm had revenue of $538.16 million for 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%. Construction Partners’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.59 earnings per share. As a group, research analysts expect that Construction Partners, Inc. will post 1.95 earnings per share for the current fiscal year.

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.