Kayne Anderson Rudnick Investment Management LLC Lowers Stock Holdings in Construction Partners, Inc. (NASDAQ:ROAD)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,579,271 shares of the company's stock after selling 41,878 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 4.62% of Construction Partners worth $228,162,000 at the end of the most recent reporting period.

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

Construction Partners Trading Up 5.2 %

Construction Partners stock traded up $3.98 during midday trading on Thursday, hitting $81.16. 275,619 shares of the stock were exchanged, compared to its average volume of 436,894. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The stock's 50-day simple moving average is $73.84 and its 200 day simple moving average is $82.74. Construction Partners, Inc. has a fifty-two week low of $49.86 and a fifty-two week high of $103.69. The stock has a market capitalization of $4.53 billion, a price-to-earnings ratio of 75.85, a PEG ratio of 0.99 and a beta of 0.85.

Insider Transactions at Construction Partners

In other Construction Partners news, CEO Fred Julius Smith III purchased 9,333 shares of the stock in a transaction dated Monday, April 14th. The stock was acquired at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the acquisition, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their position. The acquisition 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 business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. This trade represents a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 16.36% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ROAD. Raymond James reduced their target price 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. DA Davidson reissued a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research note on Thursday, January 30th. Finally, Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the company 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.