Jane Street Group LLC Buys 38,795 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Jane Street Group LLC increased its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 67.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 96,426 shares of the company's stock after acquiring an additional 38,795 shares during the period. Jane Street Group LLC owned approximately 0.18% of Construction Partners worth $6,731,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Clearbridge Investments LLC purchased a new position in shares of Construction Partners in the 2nd quarter worth approximately $20,360,000. Fred Alger Management LLC purchased a new position in Construction Partners during the third quarter worth $16,535,000. Segall Bryant & Hamill LLC bought a new position in Construction Partners during the third quarter valued at $10,377,000. Driehaus Capital Management LLC raised its stake in shares of Construction Partners by 31.9% in the second quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company's stock valued at $31,439,000 after acquiring an additional 137,572 shares during the period. Finally, Conestoga Capital Advisors LLC raised its stake in shares of Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company's stock valued at $228,305,000 after acquiring an additional 120,155 shares during the period. 94.83% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Charles E. Owens sold 16,203 shares of the company's stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $98.22, for a total value of $1,591,458.66. Following the completion of the sale, the director now directly owns 102,610 shares of the company's stock, valued at $10,078,354.20. This represents a 13.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm's stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the transaction, the director now directly owns 17,000 shares in the company, valued at $1,696,260. This trade represents a 42.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 125,225 shares of company stock valued at $12,593,083. Corporate insiders own 18.80% of the company's stock.

Analysts Set New Price Targets

Separately, Robert W. Baird lifted their price target on shares of Construction Partners from $68.00 to $92.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $69.00.

Construction Partners Trading Down 1.2 %

Shares of NASDAQ:ROAD traded down $1.12 on Friday, hitting $94.84. 389,324 shares of the company's stock were exchanged, compared to its average volume of 404,955. The stock has a market capitalization of $5.30 billion, a price-to-earnings ratio of 71.85, a price-to-earnings-growth ratio of 1.15 and a beta of 0.70. Construction Partners, Inc. has a 12 month low of $39.79 and a 12 month high of $103.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26. The business's 50 day simple moving average is $87.82 and its two-hundred day simple moving average is $70.19.

Construction Partners (NASDAQ:ROAD - Get Free Report) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing analysts' consensus estimates of $0.57 by ($0.01). The company had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The company's quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 EPS. Analysts anticipate that Construction Partners, Inc. will post 1.96 EPS for the current fiscal year.

Construction Partners Company 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.