US Bancorp DE Sells 6,895 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

US Bancorp DE reduced its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 67.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,365 shares of the company’s stock after selling 6,895 shares during the period. US Bancorp DE’s holdings in Construction Partners were worth $298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ROAD. Principal Financial Group Inc. increased 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 valued at $2,807,000 after buying an additional 1,596 shares during the last quarter. KBC Group NV increased its holdings 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 buying an additional 367 shares during the last quarter. Aubrey Capital Management Ltd purchased a new stake in Construction Partners during the third quarter valued at approximately $4,410,000. Pathstone Holdings LLC increased its holdings in Construction Partners by 8.0% during the third quarter. Pathstone Holdings LLC now owns 61,717 shares of the company’s stock valued at $4,308,000 after buying an additional 4,587 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new stake in Construction Partners during the third quarter valued at approximately $10,377,000. 94.83% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Construction Partners

In related news, CAO Todd Keith Andrews sold 2,511 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total transaction of $240,704.46. Following the completion of the transaction, the chief accounting officer now directly owns 19,339 shares of the company’s stock, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 16.36% of the stock is currently owned by corporate insiders.

Construction Partners Stock Performance

ROAD opened at $68.93 on Friday. The stock has a market capitalization of $3.85 billion, a price-to-earnings ratio of 64.42, a PEG ratio of 0.99 and a beta of 0.79. The company has a fifty day moving average of $80.44 and a 200 day moving average of $81.00. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

Analyst Ratings Changes

A number of brokerages have commented on ROAD. DA Davidson reaffirmed a “neutral” rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. Robert W. Baird increased their price objective 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. Finally, Raymond James reduced their price objective on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note on Thursday, January 16th. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Construction Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $85.40.

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.