Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D decreased its position in Construction Partners, Inc. (NASDAQ:ROAD) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,381 shares of the company’s stock after selling 887 shares during the period. State of New Jersey Common Pension Fund D owned about 0.06% of Construction Partners worth $2,121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Construction Partners by 3.0% during the 1st quarter. Vanguard Group Inc. now owns 2,415,461 shares of the company’s stock valued at $135,628,000 after acquiring an additional 69,223 shares during the period. Ninepoint Partners LP acquired a new stake in Construction Partners in the second quarter valued at approximately $954,000. Engle Capital Management L.P. purchased a new stake in shares of Construction Partners in the second quarter valued at approximately $5,742,000. Allspring Global Investments Holdings LLC raised its stake in shares of Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after buying an additional 67,150 shares during the period. Finally, Westover Capital Advisors LLC acquired a new position in shares of Construction Partners during the 2nd quarter worth approximately $674,000. Hedge funds and other institutional investors own 94.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their price target on Construction Partners from $61.00 to $67.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. DA Davidson increased their target price on shares of Construction Partners from $50.00 to $55.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Raymond James boosted their price target on shares of Construction Partners from $69.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, August 12th. Finally, Robert W. Baird increased their price objective on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.00.

Construction Partners Stock Down 2.3 %

NASDAQ ROAD opened at $89.24 on Friday. The company has a quick ratio of 1.30, a current ratio of 1.60 and a debt-to-equity ratio of 0.82. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $97.25. The business’s fifty day simple moving average is $75.16 and its 200-day simple moving average is $63.86. The firm has a market cap of $4.71 billion, a PE ratio of 66.10, a P/E/G ratio of 1.18 and a beta of 0.65.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, Director Mark R. Matteson sold 25,408 shares of Construction Partners stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $61.97, for a total value of $1,574,533.76. Following the sale, the director now owns 102,592 shares in the company, valued at $6,357,626.24. The trade was a 19.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.80% of the stock is currently owned by company insiders.

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.