Stifel Financial Corp lowered its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 9.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 98,273 shares of the company's stock after selling 9,859 shares during the quarter. Stifel Financial Corp owned 0.18% of Construction Partners worth $8,693,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Construction Partners by 42.8% during 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 during the period. FMR LLC raised its holdings in Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after acquiring an additional 565,583 shares in the last quarter. Invesco Ltd. lifted its stake in Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after acquiring an additional 642,987 shares during the last quarter. Geode Capital Management LLC grew its holdings in Construction Partners by 3.0% during the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after acquiring an additional 30,362 shares in the last quarter. Finally, First Trust Advisors LP increased its position in shares of Construction Partners by 44.9% in the 4th quarter. First Trust Advisors LP now owns 839,873 shares of the company's stock valued at $74,295,000 after purchasing an additional 260,148 shares during the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.
Insider Activity
In other Construction Partners news, CEO Fred Julius Smith III bought 9,333 shares of the firm's stock in a transaction dated Monday, April 14th. The stock was acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of 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 position. The disclosure for this sale can be found here. Company insiders own 16.36% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on ROAD shares. Robert W. Baird boosted their target price 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 lowered their price objective on Construction Partners from $104.00 to $100.00 and set a "strong-buy" rating for the company in a research report on Tuesday. Finally, DA Davidson reissued a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th.
View Our Latest Report on Construction Partners
Construction Partners Stock Performance
ROAD traded up $2.73 on Friday, reaching $89.57. The company had a trading volume of 605,719 shares, compared to its average volume of 438,680. The stock has a 50-day moving average price of $74.95 and a 200-day moving average price of $83.33. The stock has a market capitalization of $5.00 billion, a PE ratio of 83.71, a P/E/G ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 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
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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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