Jane Street Group LLC decreased its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 94.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,602 shares of the company's stock after selling 90,824 shares during the quarter. Jane Street Group LLC's holdings in Construction Partners were worth $496,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after purchasing an additional 1,046,617 shares in the last quarter. Invesco Ltd. increased its holdings in shares of Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares in the last quarter. FMR LLC increased its holdings in shares of Construction Partners by 32.1% in the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Construction Partners in the 4th quarter worth $42,527,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Construction Partners by 197.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.
Analyst Ratings Changes
ROAD has been the subject of a number of research analyst reports. Raymond James reduced their target price on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a report on Tuesday, April 29th. Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.
Read Our Latest Analysis on ROAD
Construction Partners Stock Performance
Shares of ROAD traded up $1.89 during trading hours on Friday, hitting $105.07. The stock had a trading volume of 352,246 shares, compared to its average volume of 448,794. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 12 month low of $51.63 and a 12 month high of $108.43. The firm has a market capitalization of $5.89 billion, a PE ratio of 98.20, a PEG ratio of 0.99 and a beta of 0.87. The stock has a fifty day moving average price of $86.06 and a 200 day moving average price of $85.61.
Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The company reported $0.08 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.12. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The company had revenue of $571.65 million during the quarter, compared to analyst estimates of $559.61 million. During the same quarter in the previous year, the company posted ($0.02) earnings per share. Construction Partners's revenue was up 53.9% compared to the same quarter last year. Analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current year.
Insider Activity 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 shares were bought at an average cost 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 of the company's stock, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.
Construction Partners Company Profile
(
Free Report)
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.
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