Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 22.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,427 shares of the company's stock after selling 5,642 shares during the period. Victory Capital Management Inc.'s holdings in Construction Partners were worth $1,719,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ROAD. Byrne Asset Management LLC grew its position 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 buying an additional 133 shares during the period. Allworth Financial LP grew its position in Construction Partners by 15.0% during the fourth 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 stake in Construction Partners during the fourth quarter valued at $31,000. KBC Group NV grew its position in Construction Partners by 35.0% during the third quarter. KBC Group NV now owns 1,417 shares of the company's stock valued at $99,000 after buying an additional 367 shares during the period. Finally, Mather Group LLC. acquired a new stake in Construction Partners during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 94.83% of the company's stock.

Wall Street Analyst Weigh In

ROAD has been the topic of several analyst reports. DA Davidson restated a "neutral" rating and set a $95.00 price target on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird lifted their target price 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. Finally, Raymond James dropped 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 report on Thursday, January 16th. Three investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $85.40.

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Construction Partners Trading Down 3.1 %

ROAD stock traded down $2.33 during trading on Friday, reaching $73.83. 932,183 shares of the stock were exchanged, compared to its average volume of 422,868. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average price of $78.09 and a 200-day moving average price of $81.28. Construction Partners, Inc. has a 1 year low of $49.16 and a 1 year high of $103.69. The firm has a market capitalization of $4.13 billion, a price-to-earnings ratio of 69.00, a P/E/G ratio of 0.99 and a beta of 0.79.

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.