Barclays PLC Cuts Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

Barclays PLC trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 21.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,758 shares of the company's stock after selling 21,705 shares during the quarter. Barclays PLC owned about 0.14% of Construction Partners worth $7,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Summit Investment Advisors Inc. increased its stake in Construction Partners by 5.0% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after buying an additional 213 shares in the last quarter. Bessemer Group Inc. grew its holdings in Construction Partners by 68.4% during the 4th quarter. Bessemer Group Inc. now owns 286,687 shares of the company's stock valued at $25,362,000 after buying an additional 116,440 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Construction Partners during the fourth quarter valued at approximately $42,527,000. Legal & General Group Plc lifted its stake in Construction Partners by 3.9% in the 4th quarter. Legal & General Group Plc now owns 46,230 shares of the company's stock worth $4,090,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of 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 buying an additional 642,987 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.

Insider Transactions at Construction Partners

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction 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 completion of 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 position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction on Monday, April 14th. The stock was purchased at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 16.36% of the company's stock.

Construction Partners Trading Up 1.0 %

Shares of NASDAQ ROAD traded up $0.79 during mid-day trading on Monday, reaching $80.60. The company had a trading volume of 264,740 shares, compared to its average volume of 438,028. Construction Partners, Inc. has a 52 week low of $50.42 and a 52 week high of $103.69. The business's 50-day moving average is $73.93 and its 200-day moving average is $83.06. The stock has a market cap of $4.50 billion, a price-to-earnings ratio of 75.33, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird lifted 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 reduced their price objective on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research report on Thursday, January 16th.

About Construction Partners

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.