First Trust Advisors LP Has $74.30 Million Stake in Construction Partners, Inc. (NASDAQ:ROAD)

First Trust Advisors LP increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 44.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 839,873 shares of the company's stock after purchasing an additional 260,148 shares during the quarter. First Trust Advisors LP owned 1.50% of Construction Partners worth $74,295,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ROAD. Vanguard Group Inc. lifted its holdings in shares of Construction Partners by 42.8% during 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 during the period. FMR LLC lifted its stake in Construction Partners by 32.1% during the fourth quarter. FMR LLC now owns 2,329,801 shares of the company's stock worth $206,094,000 after purchasing an additional 565,583 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Construction Partners by 75.6% in the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company's stock valued at $132,147,000 after purchasing an additional 642,987 shares in the last quarter. Geode Capital Management LLC increased its stake 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 valued at $93,617,000 after purchasing an additional 30,362 shares during the last quarter. Finally, Clearbridge Investments LLC raised its holdings in shares of Construction Partners by 2.2% during the 4th quarter. Clearbridge Investments LLC now owns 702,823 shares of the company's stock worth $62,172,000 after buying an additional 15,340 shares in the last quarter. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Construction Partners Trading Down 1.7 %

Construction Partners stock traded down $1.35 during trading hours on Friday, hitting $79.81. The stock had a trading volume of 294,379 shares, compared to its average volume of 437,978. The business's 50 day simple moving average is $73.93 and its 200-day simple moving average is $82.89. Construction Partners, Inc. has a one year low of $50.42 and a one year high of $103.69. The stock has a market cap of $4.46 billion, a price-to-earnings ratio of 74.59, a P/E/G 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.

Insider Activity at Construction Partners

In related news, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average cost of $73.83 per share, with a total value of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP John L. Harper sold 6,000 shares of the company's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. 16.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROAD. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James decreased their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th. Finally, Robert W. Baird upped their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research 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.