Stifel Financial Corp Sells 9,859 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Stifel Financial Corp reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 9.1% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 98,273 shares of the company’s stock after selling 9,859 shares during the period. Stifel Financial Corp owned approximately 0.18% of Construction Partners worth $8,693,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. MetLife Investment Management LLC raised its position in Construction Partners by 5.3% in the 4th quarter. MetLife Investment Management LLC now owns 25,926 shares of the company’s stock worth $2,293,000 after purchasing an additional 1,305 shares during the period. First Trust Advisors LP raised its position in Construction Partners by 44.9% in the 4th quarter. First Trust Advisors LP now owns 839,873 shares of the company’s stock worth $74,295,000 after purchasing an additional 260,148 shares during the period. Canada Pension Plan Investment Board purchased a new position in Construction Partners in the 4th quarter worth $425,000. Walleye Capital LLC raised its position in Construction Partners by 1,074.6% in the 4th quarter. Walleye Capital LLC now owns 38,434 shares of the company’s stock worth $3,400,000 after purchasing an additional 35,162 shares during the period. Finally, Tribune Investment Group LP purchased a new position in Construction Partners in the 4th quarter worth $3,096,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Insider Activity at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Fred Julius Smith III purchased 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The shares were bought at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is owned by corporate insiders.

Construction Partners Price Performance

Shares of NASDAQ ROAD opened at $79.81 on Monday. Construction Partners, Inc. has a 1 year low of $50.42 and a 1 year high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company’s 50-day moving average is $73.93 and its 200 day moving average is $83.06. The stock has a market capitalization of $4.46 billion, a P/E ratio of 74.59, a P/E/G ratio of 0.99 and a beta of 0.85.

Wall Street Analysts Forecast Growth

ROAD has been the topic of a number of analyst reports. Raymond James decreased their target price on shares of Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating on the stock in a research report on Thursday, January 16th. DA Davidson restated a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a “neutral” rating in a research report on Monday, February 10th.

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.