State of New Jersey Common Pension Fund D Decreases Stock Position in Construction Partners, Inc. (NASDAQ:ROAD)

State of New Jersey Common Pension Fund D cut its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 25.7% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,572 shares of the company’s stock after selling 7,809 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Construction Partners were worth $1,997,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ROAD. Creative Planning increased its holdings in shares of Construction Partners by 22.8% in the third quarter. Creative Planning now owns 7,060 shares of the company’s stock valued at $493,000 after purchasing an additional 1,311 shares during the period. US Bancorp DE increased its holdings in shares of Construction Partners by 7.2% in the third quarter. US Bancorp DE now owns 10,260 shares of the company’s stock valued at $716,000 after purchasing an additional 686 shares during the period. HMS Capital Management LLC acquired a new stake in Construction Partners during the third quarter worth about $404,000. Principal Financial Group Inc. grew its holdings in Construction Partners by 4.1% during the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company’s stock worth $2,807,000 after acquiring an additional 1,596 shares during the period. Finally, Lisanti Capital Growth LLC grew its holdings in Construction Partners by 54.4% during the third quarter. Lisanti Capital Growth LLC now owns 102,050 shares of the company’s stock worth $7,123,000 after acquiring an additional 35,955 shares during the period. 94.83% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Charles E. Owens sold 46,596 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $101.33, for a total value of $4,721,572.68. Following the transaction, the director now owns 203,404 shares in the company, valued at $20,610,927.32. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the transaction, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 139,225 shares of company stock worth $13,904,358 over the last quarter. 16.36% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ROAD has been the topic of several analyst reports. 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 report on Monday, February 10th. Raymond James dropped their target price on 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 reissued a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $85.40.

Construction Partners Stock Down 4.9 %

Shares of ROAD opened at $73.11 on Monday. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 12 month low of $46.03 and a 12 month high of $103.69. The stock’s 50 day moving average is $86.01 and its two-hundred day moving average is $80.36. The firm has a market cap of $4.09 billion, a P/E ratio of 68.33, a PEG ratio of 0.99 and a beta of 0.74.

Construction Partners (NASDAQ:ROAD) last released its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a net margin of 2.82% and a return on equity of 11.94%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 EPS. Analysts predict that Construction Partners, Inc. will post 1.96 earnings per share for the current fiscal year.

Construction Partners Company 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.