Barclays PLC Cuts Position in Construction Partners, Inc. (NASDAQ:ROAD)

Barclays PLC lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 21.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 79,758 shares of the company's stock after selling 21,705 shares during the period. Barclays PLC owned approximately 0.14% of Construction Partners worth $7,056,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sheets Smith Wealth Management purchased a new position in shares of Construction Partners in the 4th quarter valued at about $632,000. Artemis Investment Management LLP acquired a new stake in shares of Construction Partners in the 4th quarter worth approximately $18,893,000. Washington University acquired a new stake in shares of Construction Partners in the 4th quarter worth approximately $3,452,000. Sanctuary Advisors LLC purchased a new position in Construction Partners in the 3rd quarter valued at approximately $288,000. Finally, Franklin Resources Inc. acquired a new position in Construction Partners during the third quarter worth $273,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Raymond James dropped their price target on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Robert W. Baird lifted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. 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.

Construction Partners Price Performance

Construction Partners stock traded down $1.41 during midday trading on Wednesday, reaching $79.76. 27,827 shares of the company were exchanged, compared to its average volume of 436,419. The company has a market capitalization of $4.46 billion, a price-to-earnings ratio of 74.56, a P/E/G ratio of 0.99 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The firm's 50-day simple moving average is $74.04 and its 200-day simple moving average is $83.09. Construction Partners, Inc. has a 1 year low of $50.42 and a 1 year high of $103.69.

Insider Buying and Selling at Construction Partners

In related news, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. 16.36% of the stock is currently owned by insiders.

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.