Clearbridge Investments LLC Increases Position in Construction Partners, Inc. (NASDAQ:ROAD)

Clearbridge Investments LLC lifted its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 702,823 shares of the company's stock after purchasing an additional 15,340 shares during the quarter. Clearbridge Investments LLC owned 1.26% of Construction Partners worth $62,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in 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 buying an additional 1,046,617 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of Construction Partners in the fourth quarter worth approximately $42,527,000. Allspring Global Investments Holdings LLC raised its holdings 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 last quarter. Artemis Investment Management LLP bought a new position in Construction Partners during the fourth quarter valued at approximately $18,893,000. Finally, Sei Investments Co. lifted its position in Construction Partners by 124.0% during the fourth quarter. Sei Investments Co. now owns 168,491 shares of the company's stock valued at $14,905,000 after purchasing an additional 93,260 shares during the period. 94.83% of the stock is owned by institutional investors.

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Construction Partners Stock Performance

Shares of ROAD stock traded down $2.57 during mid-day trading on Friday, reaching $68.75. 471,335 shares of the company's stock traded hands, compared to its average volume of 431,002. 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 firm has a market capitalization of $3.84 billion, a PE ratio of 64.25, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a 12 month low of $49.16 and a 12 month high of $103.69. The firm has a 50 day moving average price of $75.14 and a two-hundred day moving average price of $82.28.

Analyst Ratings Changes

A number of brokerages have weighed in on ROAD. DA Davidson reiterated a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James cut 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, Robert W. Baird increased their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th.

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.