Jefferies Financial Group Inc. Cuts Position in Construction Partners, Inc. (NASDAQ:ROAD)

Jefferies Financial Group Inc. reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 8.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,753 shares of the company’s stock after selling 265 shares during the quarter. Jefferies Financial Group Inc.’s holdings in Construction Partners were worth $244,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of Construction Partners by 42.8% during the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock valued at $308,935,000 after buying an additional 1,046,617 shares during the last quarter. FMR LLC grew its stake in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company’s stock worth $206,094,000 after purchasing an additional 565,583 shares during the last quarter. Invesco Ltd. grew its stake in shares of Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company’s stock worth $132,147,000 after purchasing an additional 642,987 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Construction Partners by 2.6% in the fourth quarter. Bank of America Corp DE now owns 1,119,051 shares of the company’s stock worth $98,991,000 after purchasing an additional 28,723 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Construction Partners by 3.0% in the fourth quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company’s stock worth $93,617,000 after purchasing an additional 30,362 shares during the last quarter. 94.83% of the stock is owned by institutional investors.

Insider Buying and Selling at Construction Partners

In other news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the transaction, the senior vice president now directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This trade represents a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction dated Monday, April 14th. The shares were acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the acquisition, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at approximately $689,055.39. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 16.36% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on ROAD. DA Davidson reissued a “neutral” rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James cut their target price on Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Robert W. Baird raised their target price on Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th.

Construction Partners Stock Performance

Construction Partners stock opened at $101.14 on Friday. The stock’s 50 day simple moving average is $80.27 and its two-hundred day simple moving average is $84.48. 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 stock has a market cap of $5.65 billion, a price-to-earnings ratio of 94.52, a PEG ratio of 0.99 and a beta of 0.87. Construction Partners, Inc. has a fifty-two week low of $51.63 and a fifty-two week high of $104.53.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Friday, May 9th. The company reported $0.08 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.12. The business had revenue of $571.65 million for the quarter, compared to analysts’ expectations of $559.61 million. Construction Partners had a return on equity of 11.94% and a net margin of 2.82%. The business’s revenue was up 53.9% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.02) EPS. As a group, analysts expect that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

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.