Prudential Financial Inc. reduced its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 68.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 3,141 shares of the company's stock after selling 6,950 shares during the period. Prudential Financial Inc.'s holdings in Construction Partners were worth $278,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. USA Financial Formulas bought a new stake in shares of Construction Partners in the 4th quarter valued at about $31,000. Mather Group LLC. purchased a new stake in Construction Partners during the 4th quarter valued at $33,000. Byrne Asset Management LLC grew its holdings in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock worth $47,000 after acquiring an additional 133 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of Construction Partners by 400.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after acquiring an additional 433 shares during the period. Finally, Golden State Wealth Management LLC purchased a new position in shares of Construction Partners in the fourth quarter valued at about $50,000. 94.83% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
ROAD has been the topic of several recent analyst reports. 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. Robert W. Baird raised their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. Finally, Raymond James reduced 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.
Read Our Latest Analysis on Construction Partners
Construction Partners Stock Up 0.2 %
Shares of ROAD stock traded up $0.14 during midday trading on Tuesday, reaching $79.77. 182,737 shares of the stock were exchanged, compared to its average volume of 434,632. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The firm has a market cap of $4.46 billion, a PE ratio of 74.55, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. The company's 50 day moving average is $74.43 and its two-hundred day moving average is $82.51. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.
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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