Federated Hermes Inc. boosted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 76.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,453 shares of the company's stock after purchasing an additional 19,268 shares during the quarter. Federated Hermes Inc. owned about 0.08% of Construction Partners worth $3,932,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also bought and sold shares of the company. USA Financial Formulas acquired a new stake in Construction Partners in the fourth quarter worth $31,000. Mather Group LLC. acquired a new stake in shares of Construction Partners in the 4th quarter valued at about $33,000. Byrne Asset Management LLC lifted its stake in Construction Partners by 33.3% in the 4th quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after acquiring an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted 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 worth $48,000 after purchasing an additional 433 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of Construction Partners during the 4th quarter worth about $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.
Construction Partners Price Performance
Shares of NASDAQ:ROAD traded up $0.33 during midday trading on Tuesday, hitting $79.96. The stock had a trading volume of 380,165 shares, compared to its average volume of 435,923. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69. The company has a market capitalization of $4.47 billion, a P/E ratio of 74.73, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. 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 50-day moving average price is $74.34 and its 200-day moving average price is $82.49.
Insider Activity
In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Fred Julius Smith III bought 9,333 shares of the business's stock in a transaction that occurred on Monday, April 14th. The shares were acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer now owns 9,333 shares in the company, valued at $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.36% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have recently commented on the company. Raymond James cut their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a report on Thursday, January 16th. Robert W. Baird upped their target price on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Finally, DA Davidson reaffirmed a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th.
Check Out Our Latest Research Report on ROAD
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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