Canada Pension Plan Investment Board Invests $425,000 in Construction Partners, Inc. (NASDAQ:ROAD)

Canada Pension Plan Investment Board acquired a new position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,800 shares of the company's stock, valued at approximately $425,000.

A number of other large investors have also modified their holdings of ROAD. Byrne Asset Management LLC raised its stake in shares of Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after purchasing an additional 133 shares during the period. Allworth Financial LP grew its holdings in Construction Partners by 15.0% during the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after purchasing an additional 160 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in Construction Partners by 5.0% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,492 shares of the company's stock worth $397,000 after buying an additional 213 shares during the period. USA Financial Formulas acquired a new stake in shares of Construction Partners during the fourth quarter valued at about $31,000. Finally, HighTower Advisors LLC lifted its stake in shares of Construction Partners by 1.2% in the fourth quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock worth $2,612,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 94.83% of the company's stock.

Construction Partners Stock Performance

Shares of Construction Partners stock traded up $0.79 on Monday, reaching $80.60. 264,740 shares of the company were exchanged, compared to its average volume of 438,028. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 75.33, a P/E/G ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 1-year low of $50.42 and a 1-year high of $103.69. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The company's 50-day moving average is $73.93 and its two-hundred day moving average is $83.06.

Insiders Place Their Bets

In related news, SVP John L. Harper sold 6,000 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 159,389 shares in the company, valued at $11,767,689.87. This trade represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Fred Julius Smith III acquired 9,333 shares of the company's stock in a transaction dated Monday, April 14th. The stock was purchased at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the purchase, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ROAD has been the subject of a number of recent analyst reports. DA Davidson reissued a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James decreased 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. Finally, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a report on Monday, February 10th.

About Construction Partners

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.