FMR LLC raised its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 32.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,329,801 shares of the company's stock after acquiring an additional 565,583 shares during the period. FMR LLC owned approximately 4.17% of Construction Partners worth $206,094,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Federated Hermes Inc. raised its stake in Construction Partners by 76.5% during the 4th quarter. Federated Hermes Inc. now owns 44,453 shares of the company's stock valued at $3,932,000 after purchasing an additional 19,268 shares during the last quarter. Thames Capital Management LLC bought a new position in shares of Construction Partners during the 4th quarter worth about $6,793,000. Wells Fargo & Company MN raised its position 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 valued at $24,531,000 after buying an additional 8,324 shares during the last quarter. Integrated Quantitative Investments LLC bought a new stake in shares of Construction Partners in the fourth quarter valued at about $1,100,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in Construction Partners during the fourth quarter worth about $278,000. 94.83% of the stock is owned by institutional investors and hedge funds.
Construction Partners Price Performance
Shares of ROAD traded up $0.33 during mid-day trading on Tuesday, reaching $79.96. The company had a trading volume of 380,165 shares, compared to its average volume of 435,923. 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 capitalization of $4.47 billion, a P/E ratio of 74.73, a P/E/G ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a twelve month low of $49.16 and a twelve month high of $103.69. The company's 50-day moving average is $74.34 and its 200-day moving average is $82.49.
Insider Buying and Selling at Construction Partners
In other news, CEO Fred Julius Smith III bought 9,333 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was acquired at an average price of $73.83 per share, for a total transaction of $689,055.39. Following the transaction, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at $689,055.39. This trade represents a ∞ increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP John L. Harper sold 6,000 shares of the business's stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total transaction of $442,980.00. Following the completion of the transaction, the senior vice president now 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 disclosure for this sale can be found here. Company insiders own 16.36% of the company's stock.
Analyst Ratings Changes
ROAD has been the subject of a number of research reports. Robert W. Baird raised their price objective on Construction Partners from $100.00 to $102.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. DA Davidson reaffirmed a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Finally, Raymond James lowered their price target on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a report on Thursday, January 16th.
Check Out Our Latest Stock Analysis 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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