EFG Asset Management North America Corp. Buys 22,107 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

EFG Asset Management North America Corp. grew its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 48.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 68,090 shares of the company's stock after purchasing an additional 22,107 shares during the period. Construction Partners makes up approximately 0.8% of EFG Asset Management North America Corp.'s investment portfolio, making the stock its 26th largest holding. EFG Asset Management North America Corp. owned 0.12% of Construction Partners worth $6,026,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Sheets Smith Investment Management acquired a new stake in shares of Construction Partners during the 4th quarter valued at about $1,478,000. Advantage Alpha Capital Partners LP bought a new stake in Construction Partners in the fourth quarter valued at $2,700,000. Vanguard Group Inc. boosted its holdings 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 worth $308,935,000 after acquiring an additional 1,046,617 shares in the last quarter. LPL Financial LLC increased its stake in shares of Construction Partners by 42.5% in the fourth quarter. LPL Financial LLC now owns 39,006 shares of the company's stock valued at $3,450,000 after buying an additional 11,625 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in Construction Partners during the 4th quarter worth $805,000. 94.83% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Raymond James lowered their price objective on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research report on Thursday, January 16th. Robert W. Baird lifted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, DA Davidson reiterated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th.

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Construction Partners Price Performance

Shares of ROAD stock traded down $0.60 during trading on Friday, hitting $71.33. The company 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 stock's 50-day moving average is $76.77 and its two-hundred day moving average is $82.05. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The stock has a market capitalization of $3.99 billion, a price-to-earnings ratio of 66.66, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79.

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.