Franklin Resources Inc. Makes New $273,000 Investment in Construction Partners, Inc. (NASDAQ:ROAD)

Franklin Resources Inc. purchased a new stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,667 shares of the company’s stock, valued at approximately $273,000.

Several other large investors have also made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock valued at $61,000 after buying an additional 171 shares during the last quarter. KBC Group NV increased its stake in 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 acquiring an additional 367 shares during the period. Benjamin F. Edwards & Company Inc. raised its holdings in Construction Partners by 55.4% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in shares of Construction Partners in the 2nd quarter worth approximately $162,000. Finally, nVerses Capital LLC lifted its position in shares of Construction Partners by 19.0% in the 3rd quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after acquiring an additional 400 shares during the period. Institutional investors own 94.83% of the company’s stock.

Insider Activity

In related news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the completion of the transaction, the director now owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This represents a 27.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the sale, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 139,225 shares of company stock worth $13,904,358. 18.80% of the stock is currently owned by company insiders.

Construction Partners Price Performance

NASDAQ ROAD opened at $88.46 on Thursday. The firm’s 50 day moving average is $91.92 and its 200-day moving average is $73.27. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $4.94 billion, a PE ratio of 67.02, 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.

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

Analyst Upgrades and Downgrades

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

About Construction Partners

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.