Allspring Global Investments Holdings LLC Increases Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Allspring Global Investments Holdings LLC boosted its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 197.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 616,032 shares of the company's stock after acquiring an additional 408,610 shares during the period. Allspring Global Investments Holdings LLC owned about 1.10% of Construction Partners worth $54,104,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ROAD. USA Financial Formulas purchased a new stake in shares of Construction Partners in the 4th quarter valued at about $31,000. Mather Group LLC. acquired a new position in Construction Partners during the fourth quarter worth approximately $33,000. Byrne Asset Management LLC lifted its stake in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after buying an additional 133 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Construction Partners in the fourth quarter valued at approximately $50,000. Institutional investors and hedge funds own 94.83% of the company's stock.

Insider Buying and Selling at Construction Partners

In other Construction Partners news, CAO Todd Keith Andrews sold 2,511 shares of the firm's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the sale, the chief accounting officer now owns 19,339 shares of the company's stock, valued at approximately $1,853,836.54. This trade represents a 11.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total transaction of $566,460.00. Following the sale, the senior vice president now owns 154,856 shares in the company, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 139,225 shares of company stock valued at $13,904,358. 16.36% of the stock is owned by corporate insiders.

Construction Partners Stock Performance

NASDAQ:ROAD traded down $0.85 during midday trading on Monday, reaching $77.58. The stock had a trading volume of 474,319 shares, compared to its average volume of 649,282. The company has a quick ratio of 1.26, a current ratio of 1.54 and a debt-to-equity ratio of 0.85. The stock has a market cap of $4.34 billion, a P/E ratio of 58.77, a P/E/G ratio of 1.25 and a beta of 0.74. The firm has a fifty day simple moving average of $87.56 and a two-hundred day simple moving average of $79.78. Construction Partners, Inc. has a 12-month low of $45.26 and a 12-month high of $103.69.

Construction Partners (NASDAQ:ROAD - Get Free Report) last issued its earnings results on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The firm had revenue of $538.16 million during the quarter, compared to analysts' expectations of $538.04 million. Construction Partners had a net margin of 3.78% and a return on equity of 12.90%. The firm's revenue was up 13.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.59 EPS. On average, equities analysts expect that Construction Partners, Inc. will post 1.95 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird lifted their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Raymond James reduced their target price on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Finally, DA Davidson reiterated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Construction Partners currently has a consensus rating of "Moderate Buy" and an average price target of $85.40.

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.