12th Street Asset Management Company LLC lessened its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 39.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,657 shares of the company's stock after selling 40,000 shares during the quarter. Construction Partners accounts for about 0.9% of 12th Street Asset Management Company LLC's investment portfolio, making the stock its 29th biggest holding. 12th Street Asset Management Company LLC owned about 0.11% of Construction Partners worth $5,543,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Principal Financial Group Inc. boosted its holdings in shares of Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company's stock valued at $2,807,000 after buying an additional 1,596 shares during the period. KBC Group NV boosted its holdings in Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company's stock worth $99,000 after purchasing an additional 367 shares during the last quarter. Aubrey Capital Management Ltd acquired a new position in Construction Partners during the third quarter worth $4,410,000. Pathstone Holdings LLC boosted its holdings in Construction Partners by 8.0% during the third quarter. Pathstone Holdings LLC now owns 61,717 shares of the company's stock worth $4,308,000 after purchasing an additional 4,587 shares during the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in Construction Partners during the third quarter worth $10,377,000. Institutional investors and hedge funds own 94.83% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently commented on ROAD. DA Davidson restated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird increased their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, Raymond James reduced their target price on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $85.40.
Read Our Latest Report on Construction Partners
Insider Activity
In other news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now directly owns 17,394 shares of the company's stock, valued at $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 16.36% of the company's stock.
Construction Partners Stock Performance
NASDAQ ROAD traded down $1.39 on Tuesday, hitting $72.40. 446,236 shares of the stock were exchanged, compared to its average volume of 421,172. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The business's fifty day moving average is $79.28 and its 200 day moving average is $81.25. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The company has a market capitalization of $4.05 billion, a PE ratio of 67.66, a P/E/G ratio of 0.99 and a beta of 0.79.
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.
See Also
Before you consider Construction Partners, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Construction Partners wasn't on the list.
While Construction Partners currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
