JPMorgan Chase & Co. cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,641 shares of the company's stock after selling 10,530 shares during the quarter. JPMorgan Chase & Co. owned about 0.19% of Construction Partners worth $9,522,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the company. Byrne Asset Management LLC raised its holdings in shares of Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after purchasing an additional 133 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after buying an additional 160 shares during the period. USA Financial Formulas purchased a new stake in shares of Construction Partners in the fourth quarter worth about $31,000. HighTower Advisors LLC grew its holdings in Construction Partners by 1.2% during the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares during the period. Finally, Mather Group LLC. purchased a new position in Construction Partners during the fourth quarter valued at approximately $33,000. 94.83% of the stock is owned by institutional investors and hedge funds.
Construction Partners Price Performance
Shares of ROAD traded down $1.02 during trading hours on Friday, hitting $77.45. 632,114 shares of the stock were exchanged, compared to its average volume of 437,566. The stock's 50-day moving average price is $74.01 and its two-hundred day moving average price is $82.68. Construction Partners, Inc. has a 12-month low of $49.45 and a 12-month high of $103.69. 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 company has a market cap of $4.33 billion, a price-to-earnings ratio of 72.38, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85.
Insider Transactions at Construction Partners
In other news, CEO Fred Julius Smith III acquired 9,333 shares of the business's 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 transaction, the chief executive officer now owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the sale, the senior vice president now directly owns 159,389 shares of the company's stock, valued at $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.
Analyst Ratings Changes
ROAD has been the topic of a number of analyst reports. Robert W. Baird raised their price objective 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. DA Davidson restated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James decreased their price objective 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.
Read Our Latest Analysis on ROAD
About Construction Partners
(
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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