Raymond James Financial Inc. acquired a new stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 480,753 shares of the company's stock, valued at approximately $42,527,000. Raymond James Financial Inc. owned 0.86% of Construction Partners as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Construction Partners during the fourth quarter worth about $31,000. Mather Group LLC. acquired a new position in Construction Partners during the fourth quarter worth about $33,000. Byrne Asset Management LLC raised its position in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Nisa Investment Advisors LLC raised its position in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after acquiring an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Construction Partners during the fourth quarter worth about $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.
Construction Partners Trading Up 3.8 %
Construction Partners stock traded up $2.65 during trading on Friday, reaching $71.58. The company had a trading volume of 472,847 shares, compared to its average volume of 421,491. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The stock's 50 day moving average price is $79.66 and its two-hundred day moving average price is $81.07. The firm has a market capitalization of $4.00 billion, a price-to-earnings ratio of 66.90, 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.
Insider Activity at Construction Partners
In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of the business's stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the completion of the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 16.36% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities analysts have recently weighed in on the stock. DA Davidson reissued a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James cut their price objective on shares of 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. Finally, Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research 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 company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.40.
View Our Latest Stock Report on Construction Partners
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.
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