Truist Financial Corp Sells 8,844 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Truist Financial Corp cut its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 39.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,855 shares of the company's stock after selling 8,844 shares during the quarter. Truist Financial Corp's holdings in Construction Partners were worth $1,226,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. USA Financial Formulas acquired a new position in Construction Partners during the 4th quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in shares of Construction Partners in the 4th quarter worth about $33,000. Byrne Asset Management LLC lifted its position in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after acquiring an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in Construction Partners during the 4th quarter valued at about $50,000. Institutional investors own 94.83% of the company's stock.

Insider Transactions at Construction Partners

In other news, CAO Todd Keith Andrews sold 2,511 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $95.86, for a total transaction of $240,704.46. Following the transaction, the chief accounting officer now directly owns 19,339 shares of the company's stock, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Charles E. Owens sold 49,695 shares of the company's stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now owns 130,291 shares in the company, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,225 shares of company stock worth $13,904,358. 16.36% of the stock is currently owned by insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ROAD shares. Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Raymond James cut their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th. Finally, DA Davidson reiterated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $85.40.

Construction Partners Price Performance

Shares of ROAD stock traded down $0.98 during trading on Tuesday, hitting $68.37. The company had a trading volume of 367,830 shares, compared to its average volume of 408,810. The stock's 50-day moving average is $83.41 and its two-hundred day moving average is $80.81. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of 63.88, a price-to-earnings-growth ratio of 0.99 and a beta of 0.74. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 52 week low of $48.83 and a 52 week high of $103.69.

Construction Partners 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.