Construction Partners, Inc. (NASDAQ:ROAD) Stock Holdings Increased by Bessemer Group Inc.

Bessemer Group Inc. lifted its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 68.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 286,687 shares of the company's stock after buying an additional 116,440 shares during the quarter. Bessemer Group Inc. owned approximately 0.51% of Construction Partners worth $25,362,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock worth $308,935,000 after purchasing an additional 1,046,617 shares in the last quarter. FMR LLC raised its position in shares of Construction Partners by 32.1% during the 4th quarter. FMR LLC now owns 2,329,801 shares of the company's stock valued at $206,094,000 after acquiring an additional 565,583 shares in the last quarter. Invesco Ltd. boosted its holdings in Construction Partners by 75.6% in the fourth quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock worth $132,147,000 after purchasing an additional 642,987 shares during the period. Geode Capital Management LLC lifted its position in shares of Construction Partners by 3.0% in the 4th quarter. Geode Capital Management LLC now owns 1,058,054 shares of the company's stock worth $93,617,000 after buying an additional 30,362 shares during the last quarter. Finally, State Street Corp grew its position in shares of Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company's stock valued at $70,140,000 after buying an additional 26,189 shares during the last quarter. Institutional investors own 94.83% of the company's stock.

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Construction Partners Price Performance

NASDAQ:ROAD traded up $0.30 during trading hours on Tuesday, reaching $79.93. 305,629 shares of the company's stock were exchanged, compared to its average volume of 582,898. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The business's 50-day simple moving average is $74.43 and its two-hundred day simple moving average is $82.51. The company has a market capitalization of $4.47 billion, a P/E ratio of 74.70, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ROAD shares. Robert W. Baird boosted their price objective on 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 cut their price objective on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research report on Thursday, January 16th. Finally, DA Davidson reissued a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th.

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.