Prudential Financial Inc. Sells 6,950 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Prudential Financial Inc. reduced its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 68.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,141 shares of the company's stock after selling 6,950 shares during the period. Prudential Financial Inc.'s holdings in Construction Partners were worth $278,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Byrne Asset Management LLC boosted its stake in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares in the last quarter. Allworth Financial LP lifted its position in shares of Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after acquiring an additional 160 shares during the period. USA Financial Formulas purchased a new stake in Construction Partners during the fourth quarter worth $31,000. HighTower Advisors LLC increased its holdings in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after acquiring an additional 350 shares in the last quarter. Finally, Mather Group LLC. acquired a new position in shares of Construction Partners during the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of recent analyst reports. Robert W. Baird increased their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Raymond James decreased 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 research report on Thursday, January 16th. Finally, DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th.

Insider Activity at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of the stock in a transaction on Monday, April 14th. The shares were purchased at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. Company insiders own 16.36% of the company's stock.

Construction Partners Stock Performance

Construction Partners stock traded down $2.24 during mid-day trading on Wednesday, hitting $77.73. 175,847 shares of the company's stock traded hands, compared to its average volume of 434,997. The company has a market cap of $4.34 billion, a PE ratio of 72.44, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The firm has a 50 day moving average price of $74.34 and a 200 day moving average price of $82.49. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Construction Partners Company 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.