Sei Investments Co. Buys 93,260 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Sei Investments Co. boosted its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 124.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 168,491 shares of the company's stock after buying an additional 93,260 shares during the period. Sei Investments Co. owned approximately 0.30% of Construction Partners worth $14,905,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ROAD. USA Financial Formulas bought a new position in shares of Construction Partners during the 4th quarter valued at approximately $31,000. Mather Group LLC. purchased a new stake in Construction Partners during the fourth quarter valued at $33,000. Byrne Asset Management LLC raised its stake in Construction Partners by 33.3% during the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company's stock valued at $47,000 after purchasing an additional 133 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in Construction Partners by 400.9% during the fourth quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock valued at $48,000 after purchasing an additional 433 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in shares of Construction Partners in the 4th quarter worth $50,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ROAD shares. Raymond James lowered 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. Robert W. Baird raised their price objective on Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Finally, DA Davidson reiterated a "neutral" rating and issued a $95.00 target price on shares of Construction Partners in a report on Thursday, January 30th.

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Construction Partners Trading Up 4.3 %

Shares of ROAD stock traded up $3.17 during trading hours on Wednesday, reaching $76.40. 463,718 shares of the stock were exchanged, compared to its average volume of 430,731. The firm has a market capitalization of $4.27 billion, a price-to-earnings ratio of 71.40, a price-to-earnings-growth ratio of 0.99 and a beta of 0.79. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. The company's 50-day moving average price is $75.68 and its 200-day moving average price is $82.27. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46.

About Construction Partners

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.