Alliancebernstein L.P. decreased its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 21.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,278,733 shares of the company's stock after selling 346,462 shares during the quarter. Alliancebernstein L.P. owned 2.29% of Construction Partners worth $113,117,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Construction Partners during the 4th quarter worth approximately $646,000. Clearbridge Investments LLC boosted its stake in shares of Construction Partners by 2.2% during the 4th quarter. Clearbridge Investments LLC now owns 702,823 shares of the company's stock valued at $62,172,000 after buying an additional 15,340 shares during the period. Arrowstreet Capital Limited Partnership increased its stake in shares of Construction Partners by 123.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 7,604 shares of the company's stock worth $673,000 after acquiring an additional 4,207 shares during the last quarter. Premier Fund Managers Ltd purchased a new stake in shares of Construction Partners during the fourth quarter worth $668,000. Finally, Pictet Asset Management Holding SA grew its stake in Construction Partners by 21.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 6,094 shares of the company's stock valued at $539,000 after purchasing an additional 1,063 shares in the last quarter. Hedge funds and other institutional investors own 94.83% of the company's stock.
Construction Partners Price Performance
ROAD stock traded up $0.24 during trading on Monday, hitting $68.99. The company had a trading volume of 165,683 shares, compared to its average volume of 429,982. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The company has a fifty day moving average price of $75.14 and a two-hundred day moving average price of $82.36. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69. The company has a market cap of $3.85 billion, a P/E ratio of 64.75, a P/E/G ratio of 0.99 and a beta of 0.85.
Wall Street Analyst Weigh In
Several brokerages recently commented on ROAD. Raymond James lowered their price target on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research note on Thursday, January 16th. DA Davidson restated a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th.
Read Our Latest Stock Report on Construction Partners
Construction Partners Company Profile
(
Free Report)
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.
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