Envestnet Asset Management Inc. Has $33.79 Million Position in Construction Partners, Inc. (NASDAQ:ROAD)

Envestnet Asset Management Inc. decreased its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 18.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 381,994 shares of the company's stock after selling 88,105 shares during the period. Envestnet Asset Management Inc. owned approximately 0.68% of Construction Partners worth $33,791,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in ROAD. Wells Fargo & Company MN grew its stake in shares of Construction Partners by 3.1% during the fourth quarter. Wells Fargo & Company MN now owns 277,314 shares of the company's stock worth $24,531,000 after purchasing an additional 8,324 shares during the period. Integrated Quantitative Investments LLC acquired a new position in shares of Construction Partners during the 4th quarter worth about $1,100,000. Landscape Capital Management L.L.C. acquired a new position in shares of Construction Partners during the 4th quarter worth about $278,000. Huntington National Bank increased its stake in shares of Construction Partners by 34.8% in the 4th quarter. Huntington National Bank now owns 2,432 shares of the company's stock valued at $215,000 after acquiring an additional 628 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 acquiring an additional 30,362 shares during the period. Institutional investors own 94.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROAD. Robert W. Baird boosted their price objective on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Raymond James decreased their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Finally, DA Davidson restated a "neutral" rating and issued a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.

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Insider Activity

In other news, CEO Fred Julius Smith III acquired 9,333 shares of Construction Partners stock in a transaction dated Monday, April 14th. The stock was bought at an average cost of $73.83 per share, with a total value of $689,055.39. Following the completion of the transaction, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction that occurred on 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 directly owns 159,389 shares in the company, valued at approximately $11,767,689.87. This represents a 3.63 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.

Construction Partners Stock Up 0.4 %

NASDAQ ROAD traded up $0.33 during trading hours on Tuesday, reaching $79.96. 380,165 shares of the company's stock were exchanged, compared to its average volume of 435,408. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 74.73, 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. Construction Partners, Inc. has a one year low of $49.16 and a one year high of $103.69.

Construction Partners Company Profile

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.