Royce & Associates LP trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 14.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 239,574 shares of the company's stock after selling 40,023 shares during the quarter. Royce & Associates LP owned 0.43% of Construction Partners worth $21,193,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently made changes to their positions in the company. Swiss National Bank lifted its position in shares of Construction Partners by 0.6% during the 4th quarter. Swiss National Bank now owns 86,100 shares of the company's stock valued at $7,616,000 after acquiring an additional 500 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Construction Partners by 33.8% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 19,086 shares of the company's stock valued at $1,688,000 after purchasing an additional 4,822 shares during the last quarter. HighTower Advisors LLC boosted its position in shares of Construction Partners by 1.2% in the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after purchasing an additional 350 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Construction Partners by 7.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,659 shares of the company's stock worth $766,000 after purchasing an additional 625 shares in the last quarter. Finally, AlphaQuest LLC acquired a new stake in Construction Partners during the 4th quarter worth about $138,000. Institutional investors own 94.83% of the company's stock.
Analyst Ratings Changes
Several brokerages have commented on ROAD. DA Davidson reiterated a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th. 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. 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. Three investment 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $85.40.
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Construction Partners Stock Up 0.3 %
ROAD traded up $0.22 on Thursday, reaching $76.16. 404,120 shares of the company traded hands, compared to its average volume of 420,583. Construction Partners, Inc. has a 52-week low of $49.16 and a 52-week high of $103.69. The company has a debt-to-equity ratio of 1.46, a current ratio of 1.54 and a quick ratio of 1.23. The company has a market cap of $4.26 billion, a price-to-earnings ratio of 71.18, a PEG ratio of 0.99 and a beta of 0.79. The stock's 50 day moving average price is $78.64 and its 200-day moving average price is $81.26.
Insider Activity at Construction Partners
In other Construction Partners news, CAO Todd Keith Andrews sold 5,489 shares of Construction Partners stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $91.84, for a total value of $504,109.76. Following the completion of the sale, the chief accounting officer now directly owns 17,394 shares in the company, valued at $1,597,464.96. The trade was a 23.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 16.36% of the company's stock.
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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