Charles Schwab Investment Management Inc. boosted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 463,000 shares of the company's stock after buying an additional 9,788 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.83% of Construction Partners worth $40,957,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Principal Financial Group Inc. increased its holdings in shares of Construction Partners by 4.1% in the third quarter. Principal Financial Group Inc. now owns 40,215 shares of the company's stock valued at $2,807,000 after buying an additional 1,596 shares in the last quarter. KBC Group NV grew its holdings in shares of Construction Partners by 35.0% in the 3rd quarter. KBC Group NV now owns 1,417 shares of the company's stock worth $99,000 after acquiring an additional 367 shares during the last quarter. Pathstone Holdings LLC raised its position in shares of Construction Partners by 8.0% during the third quarter. Pathstone Holdings LLC now owns 61,717 shares of the company's stock worth $4,308,000 after purchasing an additional 4,587 shares during the period. Segall Bryant & Hamill LLC purchased a new stake in shares of Construction Partners during the third quarter valued at $10,377,000. Finally, Advisors Asset Management Inc. increased its stake in Construction Partners by 3.6% in the 3rd quarter. Advisors Asset Management Inc. now owns 75,749 shares of the company's stock worth $5,287,000 after purchasing an additional 2,647 shares in the last quarter. 94.83% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Construction Partners
In related news, CAO Todd Keith Andrews sold 5,489 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $91.84, for a total value of $504,109.76. Following the transaction, the chief accounting officer now owns 17,394 shares in the company, valued at approximately $1,597,464.96. This represents a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 16.36% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have commented on ROAD. Robert W. Baird upped their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. DA Davidson restated a "neutral" rating and issued a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James lowered 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. Three research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $85.40.
Read Our Latest Stock Analysis on ROAD
Construction Partners Stock Up 4.8 %
Shares of NASDAQ ROAD traded up $3.49 during mid-day trading on Wednesday, reaching $75.89. The company had a trading volume of 260,039 shares, compared to its average volume of 421,458. The stock has a fifty day moving average of $78.93 and a two-hundred day moving average of $81.30. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 70.98, a PEG ratio of 0.99 and a beta of 0.79. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.
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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