Russell Investments Group Ltd. lowered its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 12.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,325 shares of the company's stock after selling 13,946 shares during the period. Russell Investments Group Ltd. owned about 0.17% of Construction Partners worth $8,344,000 at the end of the most recent quarter.
A number of other hedge funds also recently added to or reduced their stakes in ROAD. Vanguard Group Inc. grew its stake 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 purchasing an additional 1,046,617 shares during the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 30,362 shares in the last quarter. State Street Corp boosted its holdings in shares of Construction Partners by 2.7% in the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company's stock valued at $70,140,000 after buying an additional 26,189 shares in the last quarter. Clearbridge Investments LLC grew its position in shares of Construction Partners by 2.2% in the 4th quarter. Clearbridge Investments LLC now owns 702,823 shares of the company's stock worth $62,172,000 after buying an additional 15,340 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company's stock worth $54,104,000 after acquiring an additional 408,610 shares in the last quarter. 94.83% of the stock is owned by hedge funds and other institutional investors.
Construction Partners Price Performance
Shares of Construction Partners stock traded up $0.33 on Tuesday, hitting $79.96. The company's stock had a trading volume of 380,165 shares, compared to its average volume of 435,923. 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 firm has a fifty day moving average price of $74.34 and a 200-day moving average price of $82.49. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69.
Insider Transactions at Construction Partners
In related news, CEO Fred Julius Smith III purchased 9,333 shares of Construction Partners stock in a transaction that occurred on Monday, April 14th. The stock was purchased 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 in the company, valued at approximately $689,055.39. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP John L. Harper sold 6,000 shares of Construction Partners 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 sale, the senior vice president now owns 159,389 shares in the company, valued at approximately $11,767,689.87. The trade was a 3.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 16.36% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on ROAD shares. Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. DA Davidson reiterated a "neutral" rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Raymond James lowered their price objective on Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating for the company in a research report on Thursday, January 16th.
Check Out Our Latest 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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