Construction Partners, Inc. (NASDAQ:ROAD) is Tyro Capital Management LLC’s 9th Largest Position

Tyro Capital Management LLC reduced its position in Construction Partners, Inc. (NASDAQ:ROAD) by 32.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 201,701 shares of the company’s stock after selling 97,499 shares during the quarter. Construction Partners comprises approximately 4.4% of Tyro Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Tyro Capital Management LLC owned about 0.36% of Construction Partners worth $14,079,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Ninepoint Partners LP purchased a new stake in Construction Partners during the 2nd quarter worth approximately $954,000. Segall Bryant & Hamill LLC acquired a new position in shares of Construction Partners in the third quarter valued at about $10,377,000. Engle Capital Management L.P. purchased a new position in shares of Construction Partners in the second quarter worth about $5,742,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Construction Partners by 47.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after purchasing an additional 67,150 shares during the period. Finally, Westover Capital Advisors LLC purchased a new position in shares of Construction Partners during the second quarter worth $674,000. 94.83% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Robert W. Baird upped their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $69.00.

Insiders Place Their Bets

In related news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction that occurred on 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 sale, the director now owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the completion of the sale, the director now owns 17,000 shares in the company, valued at $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,225 shares of company stock worth $12,593,083 over the last three months. Company insiders own 18.80% of the company’s stock.

Construction Partners Stock Down 1.7 %

ROAD stock opened at $95.96 on Friday. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. 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 firm has a market cap of $5.36 billion, a PE ratio of 72.70, a PEG ratio of 1.18 and a beta of 0.70. The firm’s 50 day moving average price is $87.29 and its 200-day moving average price is $69.82.

Construction Partners (NASDAQ:ROAD) last issued 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). Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The business 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 business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 13.3% compared to the same quarter last year. On average, equities research analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current 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.