Franklin Resources Inc. grew its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 6,332.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 235,880 shares of the company's stock after buying an additional 232,213 shares during the period. Franklin Resources Inc. owned approximately 0.42% of Construction Partners worth $20,866,000 at the end of the most recent quarter.
Other institutional investors also recently modified their holdings of the company. Sheets Smith Wealth Management acquired a new stake in Construction Partners in the 4th quarter worth about $632,000. Artemis Investment Management LLP bought a new position in shares of Construction Partners during the fourth quarter worth approximately $18,893,000. Washington University acquired a new stake in shares of Construction Partners in the fourth quarter valued at approximately $3,452,000. Sanctuary Advisors LLC acquired a new stake in shares of Construction Partners in the third quarter valued at approximately $288,000. Finally, State Street Corp boosted its stake in shares of Construction Partners by 2.7% in the third quarter. State Street Corp now owns 1,004,867 shares of the company's stock valued at $70,140,000 after buying an additional 26,189 shares during the period. Institutional investors own 94.83% of the company's stock.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on ROAD. Raymond James cut their target price on 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. DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th.
Read Our Latest Report on ROAD
Construction Partners Price Performance
Shares of ROAD stock traded up $2.25 on Friday, hitting $80.36. 336,352 shares of the company's stock were exchanged, compared to its average volume of 434,776. The company has a 50 day moving average of $74.45 and a 200 day moving average of $82.35. The stock has a market cap of $4.49 billion, a P/E ratio of 75.10, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69.
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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