Jackson Creek Investment Advisors LLC cut its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 34.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 19,205 shares of the company's stock after selling 9,933 shares during the quarter. Jackson Creek Investment Advisors LLC's holdings in Construction Partners were worth $1,699,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its position in Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company's stock worth $70,140,000 after buying an additional 26,189 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after acquiring an additional 408,610 shares during the last quarter. Raymond James Financial Inc. bought a new position in Construction Partners during the fourth quarter worth $42,527,000. Charles Schwab Investment Management Inc. raised its stake in Construction Partners by 2.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company's stock valued at $40,957,000 after purchasing an additional 9,788 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in Construction Partners during the 3rd quarter valued at $16,535,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In other news, CAO Todd Keith Andrews sold 5,489 shares of the company's stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Charles E. Owens sold 16,203 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The stock was sold at an average price of $98.22, for a total value of $1,591,458.66. Following the transaction, the director now owns 102,610 shares of the company's stock, valued at $10,078,354.20. This trade represents a 13.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,203 shares of company stock valued at $2,902,733 over the last quarter. Corporate insiders own 16.36% of the company's stock.
Construction Partners Price Performance
Shares of NASDAQ:ROAD traded up $0.70 during midday trading on Tuesday, reaching $68.37. 454,550 shares of the company's stock were exchanged, compared to its average volume of 418,860. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The company's 50 day simple moving average is $81.65 and its two-hundred day simple moving average is $81.01. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The firm has a market capitalization of $3.82 billion, a PE ratio of 63.90, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.
Analyst Ratings Changes
ROAD has been the topic of several research reports. Robert W. Baird boosted their price objective 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. Raymond James decreased their target price on 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. Finally, 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. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.40.
Check Out Our Latest Research Report on ROAD
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.
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