480,753 Shares in Construction Partners, Inc. (NASDAQ:ROAD) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 480,753 shares of the company's stock, valued at approximately $42,527,000. Raymond James Financial Inc. owned approximately 0.86% of Construction Partners as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp raised its position in Construction Partners by 2.7% during the third quarter. State Street Corp now owns 1,004,867 shares of the company's stock valued at $70,140,000 after purchasing an additional 26,189 shares in the last quarter. Barclays PLC raised its holdings in shares of Construction Partners by 109.5% during the 3rd quarter. Barclays PLC now owns 101,463 shares of the company's stock valued at $7,082,000 after buying an additional 53,026 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Construction Partners during the 3rd quarter valued at about $559,000. Sanctuary Advisors LLC bought a new stake in Construction Partners in the 3rd quarter worth approximately $288,000. Finally, Franklin Resources Inc. purchased a new stake in Construction Partners in the third quarter worth approximately $273,000. 94.83% of the stock is owned by institutional investors.

Insider Activity at Construction Partners

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. DA Davidson restated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird boosted 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. Finally, Raymond James cut 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.

Construction Partners Trading Down 2.7 %

Construction Partners stock traded down $2.12 during trading hours on Monday, reaching $75.33. The stock had a trading volume of 14,829 shares, compared to its average volume of 435,923. 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 company has a fifty day simple moving average of $74.01 and a 200-day simple moving average of $82.79. The stock has a market cap of $4.21 billion, a PE ratio of 71.33, a PEG ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 52 week low of $49.45 and a 52 week high of $103.69.

Construction Partners 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.