Jane Street Group LLC Purchases 38,795 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Jane Street Group LLC grew its position in Construction Partners, Inc. (NASDAQ:ROAD) by 67.3% during the third quarter, HoldingsChannel.com reports. The fund owned 96,426 shares of the company’s stock after acquiring an additional 38,795 shares during the quarter. Jane Street Group LLC’s holdings in Construction Partners were worth $6,731,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ROAD. Conestoga Capital Advisors LLC grew its holdings in shares of Construction Partners by 3.0% in the second quarter. Conestoga Capital Advisors LLC now owns 4,135,202 shares of the company’s stock valued at $228,305,000 after purchasing an additional 120,155 shares in the last quarter. State Street Corp grew its stake in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after buying an additional 26,189 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Construction Partners by 2.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 972,400 shares of the company’s stock worth $53,687,000 after buying an additional 24,828 shares during the last quarter. American Century Companies Inc. raised its position in shares of Construction Partners by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 949,123 shares of the company’s stock valued at $52,401,000 after buying an additional 70,099 shares in the last quarter. Finally, Driehaus Capital Management LLC raised its position in shares of Construction Partners by 31.9% during the 2nd quarter. Driehaus Capital Management LLC now owns 569,440 shares of the company’s stock valued at $31,439,000 after buying an additional 137,572 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Robert W. Baird boosted their price objective on Construction Partners from $68.00 to $92.00 and gave the stock a “neutral” rating in a research note 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 stock. Based on data from MarketBeat.com, Construction Partners currently has a consensus rating of “Moderate Buy” and an average target price of $69.00.

Insider Transactions at Construction Partners

In related news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction dated Friday, December 6th. The shares were sold at an average price of $100.81, for a total value of $5,009,752.95. Following the transaction, the director now owns 130,291 shares of the company’s stock, valued at $13,134,635.71. This trade represents a 27.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of Construction Partners stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $99.78, for a total transaction of $1,270,299.18. Following the sale, the director now owns 17,000 shares of the company’s stock, valued at $1,696,260. The trade was a 42.82 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 125,225 shares of company stock worth $12,593,083. 18.80% of the stock is currently owned by company insiders.

Construction Partners Trading Down 1.2 %

Shares of ROAD opened at $94.84 on Friday. The company’s fifty day simple moving average is $87.82 and its 200-day simple moving average is $70.11. The company has a market cap of $5.30 billion, a P/E ratio of 71.85, a P/E/G ratio of 1.18 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. Construction Partners, Inc. has a twelve month low of $39.79 and a twelve month high of $103.69.

Construction Partners (NASDAQ:ROAD) last posted its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share 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 firm had revenue of $538.16 million during the quarter, compared to analysts’ expectations of $538.04 million. During the same period last year, the company earned $0.59 earnings per share. The business’s revenue for the quarter was up 13.3% compared to the same quarter last year. As a group, analysts expect 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.