Proficio Capital Partners LLC acquired a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 18,046 shares of the company's stock, valued at approximately $1,596,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Byrne Asset Management LLC raised its stake in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after buying an additional 133 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Construction Partners by 15.0% during the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after purchasing an additional 160 shares during the last quarter. USA Financial Formulas bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $31,000. KBC Group NV grew its holdings in shares of Construction Partners by 35.0% during 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 during the last quarter. Finally, Mather Group LLC. bought a new position in shares of Construction Partners during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 94.83% of the company's stock.
Insider Buying and Selling
In other news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the transaction, the senior vice president now directly owns 154,856 shares in the company, valued at approximately $14,619,954.96. This trade represents a 3.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of Construction Partners stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,934 shares of company stock valued at $4,173,032 in the last three months. 16.36% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
Several research firms have recently commented on ROAD. DA Davidson reaffirmed a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Raymond James lowered their target price on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird upped their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Three analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Construction Partners has a consensus rating of "Moderate Buy" and an average price target of $85.40.
Check Out Our Latest Report on Construction Partners
Construction Partners Stock Performance
ROAD stock traded up $1.07 on Friday, reaching $69.41. The company's stock had a trading volume of 724,951 shares, compared to its average volume of 416,028. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The company has a market capitalization of $3.88 billion, a P/E ratio of 64.87, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. The firm has a fifty day moving average of $81.65 and a two-hundred day moving average of $81.01. 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 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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