Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD) by 27.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 29,161 shares of the company’s stock after selling 11,054 shares during the quarter. Principal Financial Group Inc. owned approximately 0.05% of Construction Partners worth $2,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Sheets Smith Wealth Management acquired a new stake in Construction Partners during the 4th quarter worth $632,000. Segall Bryant & Hamill LLC acquired a new stake in Construction Partners during the 3rd quarter worth $10,377,000. Intech Investment Management LLC acquired a new stake in Construction Partners during the 3rd quarter worth $778,000. Artemis Investment Management LLP acquired a new stake in Construction Partners during the 4th quarter worth $18,893,000. Finally, Washington University acquired a new stake in Construction Partners during the 4th quarter worth $3,452,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Raymond James dropped their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research note on Thursday, January 16th. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Trading Down 2.5 %

NASDAQ ROAD opened at $67.61 on Wednesday. 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 firm has a market cap of $3.78 billion, a PE ratio of 63.19, a P/E/G ratio of 0.99 and a beta of 0.74. Construction Partners, Inc. has a one year low of $49.06 and a one year high of $103.69. The firm’s fifty day moving average is $83.41 and its two-hundred day moving average is $80.81.

Insider Buying and Selling at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of Construction Partners stock in a transaction dated 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 sale, the director now owns 130,291 shares of the company’s stock, valued at $13,134,635.71. The trade was a 27.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $94.41, for a total transaction of $566,460.00. Following the completion of the sale, the senior vice president now directly owns 154,856 shares in the company, valued at approximately $14,619,954.96. The trade was a 3.73 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,629 shares of company stock worth $9,182,785. 16.36% of the stock is owned by company insiders.

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.