Principal Financial Group Inc. decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 27.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,161 shares of the company's stock after selling 11,054 shares during the period. Principal Financial Group Inc. owned approximately 0.05% of Construction Partners worth $2,580,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently added to or reduced their stakes in the company. Creative Planning raised its holdings in Construction Partners by 22.8% during the 3rd quarter. Creative Planning now owns 7,060 shares of the company's stock worth $493,000 after buying an additional 1,311 shares during the period. US Bancorp DE lifted its position in shares of Construction Partners by 7.2% in the 3rd quarter. US Bancorp DE now owns 10,260 shares of the company's stock valued at $716,000 after acquiring an additional 686 shares in the last quarter. HMS Capital Management LLC acquired a new position in Construction Partners in the 3rd quarter worth approximately $404,000. Lisanti Capital Growth LLC grew its position in Construction Partners by 54.4% during the 3rd quarter. Lisanti Capital Growth LLC now owns 102,050 shares of the company's stock worth $7,123,000 after purchasing an additional 35,955 shares in the last quarter. Finally, KBC Group NV lifted its holdings in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after purchasing an additional 367 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors.
Insider Transactions at Construction Partners
In related news, Director Charles E. Owens sold 16,203 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $98.22, for a total transaction of $1,591,458.66. Following the completion of the transaction, the director now directly owns 102,610 shares in the company, valued at approximately $10,078,354.20. This trade represents a 13.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares of the company's stock, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,934 shares of company stock valued at $4,173,032 over the last three months. 16.36% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the company. Robert W. Baird lifted their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Raymond James decreased their price target on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research note on Thursday, January 16th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $85.40.
Check Out Our Latest Research Report on Construction Partners
Construction Partners Trading Up 1.6 %
ROAD traded up $1.07 during midday trading on Friday, reaching $69.41. 724,951 shares of the company were exchanged, compared to its average volume of 415,715. The stock's 50-day simple moving average is $82.06 and its 200 day simple moving average is $80.68. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69. The stock has a market capitalization of $3.88 billion, a P/E ratio of 64.87, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.
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.
Read More
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
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
