Franklin Resources Inc. Takes $273,000 Position in Construction Partners, Inc. (NASDAQ:ROAD)

Franklin Resources Inc. purchased a new stake in Construction Partners, Inc. (NASDAQ:ROAD) in the 3rd quarter, HoldingsChannel reports. The fund purchased 3,667 shares of the company’s stock, valued at approximately $273,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of Construction Partners by 24.4% during the third quarter. GAMMA Investing LLC now owns 873 shares of the company’s stock worth $61,000 after acquiring an additional 171 shares in the last quarter. KBC Group NV raised its stake in shares of Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock worth $99,000 after purchasing an additional 367 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Construction Partners by 55.4% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 1,831 shares of the company’s stock valued at $101,000 after acquiring an additional 653 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Construction Partners during the second quarter valued at about $162,000. Finally, nVerses Capital LLC boosted its holdings in Construction Partners by 19.0% during the third quarter. nVerses Capital LLC now owns 2,500 shares of the company’s stock worth $174,000 after purchasing an additional 400 shares during the last quarter. Institutional investors own 94.83% of the company’s stock.

Analysts Set New Price Targets

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

Insider Transactions at Construction Partners

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the stock in a transaction 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 sale, the director now directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Todd Keith Andrews sold 5,489 shares of the company’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 transaction, the chief accounting officer now owns 17,394 shares in the company, valued at $1,597,464.96. This represents a 23.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 139,225 shares of company stock valued at $13,904,358. Corporate insiders own 18.80% of the company’s stock.

Construction Partners Price Performance

Shares of NASDAQ:ROAD opened at $88.46 on Thursday. The company’s fifty day moving average is $91.92 and its 200 day moving average is $73.27. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a 52 week low of $39.79 and a 52 week high of $103.69. The stock has a market cap of $4.94 billion, a PE ratio of 67.02, a PEG ratio of 1.15 and a beta of 0.70.

Construction Partners (NASDAQ:ROAD) last issued its quarterly earnings data on Thursday, November 21st. The company reported $0.56 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.01). Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm had revenue of $538.16 million for the quarter, compared to the consensus estimate of $538.04 million. During the same period last year, the company posted $0.59 earnings per share. The business’s revenue was up 13.3% on a year-over-year basis. Research analysts anticipate that Construction Partners, Inc. will post 1.96 earnings per share 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.