Vanguard Group Inc. lifted its stake in Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 42.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,492,368 shares of the company's stock after acquiring an additional 1,046,617 shares during the quarter. Vanguard Group Inc. owned 6.25% of Construction Partners worth $308,935,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in ROAD. Byrne Asset Management LLC lifted 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 worth $47,000 after purchasing an additional 133 shares in the last quarter. Allworth Financial LP raised its holdings in shares of Construction Partners by 15.0% in the 4th quarter. Allworth Financial LP now owns 1,228 shares of the company's stock valued at $114,000 after buying an additional 160 shares during the period. USA Financial Formulas acquired a new position in Construction Partners during the 4th quarter worth about $31,000. HighTower Advisors LLC boosted its holdings in Construction Partners by 1.2% during the 4th quarter. HighTower Advisors LLC now owns 29,531 shares of the company's stock valued at $2,612,000 after acquiring an additional 350 shares during the period. Finally, Mather Group LLC. purchased a new position in Construction Partners during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 94.83% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the stock. DA Davidson reiterated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research note on Thursday, January 30th. Raymond James cut their target price on shares of Construction Partners from $112.00 to $104.00 and set a "strong-buy" rating on the stock in a research note on Thursday, January 16th. Finally, Robert W. Baird raised their price target on shares of Construction Partners from $100.00 to $102.00 and gave the company a "neutral" rating in a research report on Monday, February 10th.
View Our Latest Stock Analysis on Construction Partners
Construction Partners Stock Down 0.4 %
ROAD stock traded down $0.25 during mid-day trading on Tuesday, reaching $69.53. The company had a trading volume of 659,487 shares, compared to its average volume of 433,369. The firm has a fifty day simple moving average of $74.56 and a 200 day simple moving average of $82.20. 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 $3.89 billion, a price-to-earnings ratio of 64.98, a price-to-earnings-growth ratio of 0.99 and a beta of 0.85. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69.
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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