Barclays PLC Has $7.08 Million Position in Construction Partners, Inc. (NASDAQ:ROAD)

Barclays PLC increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 109.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 101,463 shares of the company’s stock after buying an additional 53,026 shares during the quarter. Barclays PLC owned 0.19% of Construction Partners worth $7,082,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ninepoint Partners LP bought a new position in shares of Construction Partners during the 2nd quarter worth approximately $954,000. Segall Bryant & Hamill LLC acquired a new position in Construction Partners during the third quarter worth $10,377,000. Engle Capital Management L.P. bought a new position in Construction Partners in the second quarter valued at $5,742,000. Allspring Global Investments Holdings LLC increased its stake in Construction Partners by 47.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock valued at $14,478,000 after buying an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC bought a new stake in Construction Partners during the 2nd quarter worth about $674,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Construction Partners

In other news, Director Charles E. Owens sold 49,695 shares of the business’s stock in a transaction that occurred on Friday, December 6th. The stock was sold at an average price of $100.81, for a total transaction of $5,009,752.95. Following the completion of the sale, the director now owns 130,291 shares in the company, 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 SEC, which is available at this hyperlink. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $99.78, for a total value of $1,270,299.18. Following the transaction, the director now owns 17,000 shares in the company, valued at approximately $1,696,260. This trade represents a 42.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 133,736 shares of company stock valued at $13,400,248 in the last quarter. 18.80% of the stock is currently owned by insiders.

Construction Partners Stock Performance

Shares of ROAD stock opened at $89.43 on Thursday. The company has a fifty day moving average price of $89.22 and a two-hundred day moving average price of $70.84. Construction Partners, Inc. has a one year low of $39.79 and a one year high of $103.69. The stock has a market cap of $5.00 billion, a P/E ratio of 67.75, a P/E/G ratio of 1.15 and a beta of 0.70. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.54 and a quick ratio of 1.26.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings results on Thursday, November 21st. The company reported $0.56 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 business had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same quarter in the previous year, the business posted $0.59 EPS. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. As a group, equities analysts predict that Construction Partners, Inc. will post 1.96 EPS for the current year.

Construction Partners 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.