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

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

A number of other hedge funds and other institutional investors have also recently modified their holdings of ROAD. Engle Capital Management L.P. raised its holdings in shares of Construction Partners by 10.4% in the 4th quarter. Engle Capital Management L.P. now owns 152,000 shares of the company’s stock worth $13,446,000 after purchasing an additional 14,309 shares during the period. Fred Alger Management LLC raised its holdings in shares of Construction Partners by 36.9% in the 4th quarter. Fred Alger Management LLC now owns 324,384 shares of the company’s stock worth $28,695,000 after purchasing an additional 87,487 shares during the period. Corton Capital Inc. bought a new stake in shares of Construction Partners in the 4th quarter worth approximately $266,000. Captrust Financial Advisors raised its holdings in shares of Construction Partners by 5.6% in the 4th quarter. Captrust Financial Advisors now owns 7,761 shares of the company’s stock worth $687,000 after purchasing an additional 412 shares during the period. Finally, Balyasny Asset Management L.P. raised its holdings in shares of Construction Partners by 51.1% in the 4th quarter. Balyasny Asset Management L.P. now owns 39,591 shares of the company’s stock worth $3,502,000 after purchasing an additional 13,397 shares during the period. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $95.00 price target on shares of Construction Partners in a report on Thursday, January 30th. 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 report on Monday, February 10th. Finally, Raymond James lowered their price target on shares of Construction Partners from $104.00 to $100.00 and set a “strong-buy” rating on the stock in a report on Tuesday, April 29th.

Insider Transactions at Construction Partners

In other news, CEO Fred Julius Smith III purchased 9,333 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were purchased 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 owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John L. Harper sold 6,000 shares of the company’s stock in a transaction on Monday, April 14th. The stock was 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. The trade was a 3.63% decrease in their position. The disclosure for this sale can be found here. Insiders own 16.36% of the company’s stock.

Construction Partners Trading Up 2.1%

NASDAQ:ROAD opened at $101.14 on Friday. The company has a market cap of $5.65 billion, a P/E ratio of 94.52, a P/E/G ratio of 0.99 and a beta of 0.87. The stock’s fifty day moving average price is $80.27 and its two-hundred day moving average price is $84.48. Construction Partners, Inc. has a 1 year low of $51.63 and a 1 year high of $104.53. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23.

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

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.