Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by American Century Companies Inc.

American Century Companies Inc. trimmed its position in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 862,628 shares of the company's stock after selling 11,834 shares during the quarter. American Century Companies Inc. owned 1.54% of Construction Partners worth $76,308,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Byrne Asset Management LLC grew its stake in shares of 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 in the last quarter. Allworth Financial LP boosted its stake in shares of Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after purchasing an additional 160 shares during the period. USA Financial Formulas acquired a new stake in Construction Partners during the 4th quarter valued at $31,000. HighTower Advisors LLC increased its stake in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after buying an additional 350 shares during the period. Finally, Mather Group LLC. acquired a new position in Construction Partners in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Construction Partners Stock Performance

Shares of ROAD traded down $0.60 during mid-day trading on Friday, hitting $71.33. The stock had a trading volume of 290,931 shares, compared to its average volume of 429,621. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company has a market cap of $3.99 billion, a PE ratio of 66.66, a PEG ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69. The company's fifty day simple moving average is $76.77 and its two-hundred day simple moving average is $81.89.

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Wall Street Analyst Weigh In

ROAD has been the subject of several recent analyst reports. Robert W. Baird raised their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Raymond James lowered their price objective 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. Finally, DA Davidson reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Three equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Construction Partners currently has an average 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.