Arrowstreet Capital Limited Partnership increased its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 123.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,604 shares of the company's stock after purchasing an additional 4,207 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in Construction Partners were worth $673,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Construction Partners in the fourth quarter valued at approximately $42,527,000. Allspring Global Investments Holdings LLC boosted its stake in shares of Construction Partners by 197.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock valued at $54,104,000 after purchasing an additional 408,610 shares during the period. Artemis Investment Management LLP purchased a new position in shares of Construction Partners in the fourth quarter worth $18,893,000. Finally, Sei Investments Co. raised its holdings in Construction Partners by 124.0% during the 4th quarter. Sei Investments Co. now owns 168,491 shares of the company's stock valued at $14,905,000 after buying an additional 93,260 shares during the last quarter. 94.83% of the stock is owned by institutional investors.
Insider Activity
In other news, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction on Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Fred Julius Smith III purchased 9,333 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price of $73.83 per share, with a total value of $689,055.39. Following the completion of the purchase, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 16.36% of the stock is currently owned by company insiders.
Construction Partners Trading Up 0.4 %
ROAD stock traded up $0.33 during trading on Tuesday, reaching $79.96. The company had a trading volume of 380,165 shares, compared to its average volume of 435,405. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The business has a 50 day moving average of $74.43 and a 200 day moving average of $82.51. The company has a market cap of $4.47 billion, a P/E ratio of 74.73, a PEG ratio of 0.99 and a beta of 0.85.
Wall Street Analyst Weigh In
A number of research firms have issued reports on ROAD. Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Raymond James dropped their price objective on 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 restated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th.
Check Out Our Latest Stock Report on Construction Partners
About Construction Partners
(
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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