12th Street Asset Management Company LLC Decreases Stake in Construction Partners, Inc. (NASDAQ:ROAD)

12th Street Asset Management Company LLC lowered its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 39.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,657 shares of the company’s stock after selling 40,000 shares during the period. Construction Partners accounts for approximately 0.9% of 12th Street Asset Management Company LLC’s portfolio, making the stock its 29th largest position. 12th Street Asset Management Company LLC’s holdings in Construction Partners were worth $5,543,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ROAD. Principal Financial Group Inc. boosted its position in shares of Construction Partners by 4.1% during the 3rd 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 in the last quarter. KBC Group NV lifted its holdings in shares of Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after purchasing an additional 367 shares during the last quarter. Aubrey Capital Management Ltd purchased a new position in shares of Construction Partners during the third quarter worth about $4,410,000. Pathstone Holdings LLC grew its holdings in shares of Construction Partners by 8.0% during the third quarter. Pathstone Holdings LLC now owns 61,717 shares of the company’s stock worth $4,308,000 after buying an additional 4,587 shares during the last quarter. Finally, Segall Bryant & Hamill LLC purchased a new position in shares of Construction Partners during the third quarter worth about $10,377,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Construction Partners Stock Down 1.2 %

ROAD stock opened at $68.93 on Friday. The company has a market cap of $3.85 billion, a P/E ratio of 64.42, a P/E/G ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The company’s 50-day moving average price is $80.44 and its 200 day moving average price is $81.00. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

Insider Buying and Selling

In related news, CAO Todd Keith Andrews sold 5,489 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $91.84, for a total transaction of $504,109.76. Following the sale, the chief accounting officer now owns 17,394 shares of the company’s stock, valued at approximately $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 16.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of research reports. Robert W. Baird raised their price target 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 lowered their price target 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 set a $95.00 price target 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 given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.