Loomis Sayles & Co. L P trimmed its holdings in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 2.8% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 726,193 shares of the company's stock after selling 21,219 shares during the quarter. Loomis Sayles & Co. L P owned about 1.30% of Construction Partners worth $64,239,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Construction Partners by 42.8% in the fourth quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company's stock valued at $308,935,000 after acquiring an additional 1,046,617 shares during the period. Raymond James Financial Inc. bought a new position in shares of Construction Partners in the 4th quarter worth approximately $42,527,000. Allspring Global Investments Holdings LLC grew its position in 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 buying an additional 408,610 shares during the period. Fred Alger Management LLC purchased a new stake in Construction Partners during the third quarter valued at approximately $16,535,000. Finally, Artemis Investment Management LLP bought a new position in Construction Partners in the fourth quarter worth approximately $18,893,000. Hedge funds and other institutional investors own 94.83% of the company's stock.
Construction Partners Price Performance
ROAD stock traded down $0.87 during trading on Monday, reaching $70.46. The company's stock had a trading volume of 112,670 shares, compared to its average volume of 428,400. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The company's fifty day moving average is $76.77 and its 200-day moving average is $82.19. The company has a market capitalization of $3.94 billion, a P/E ratio of 65.69, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69.
Wall Street Analysts Forecast Growth
Several research firms have recently commented on ROAD. Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research note on Thursday, January 16th. Robert W. Baird upped their price target on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.
View Our Latest Stock Report on Construction Partners
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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