Wells Fargo & Company MN Purchases 8,324 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Wells Fargo & Company MN increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD - Free Report) by 3.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 277,314 shares of the company's stock after buying an additional 8,324 shares during the period. Wells Fargo & Company MN owned 0.50% of Construction Partners worth $24,531,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ROAD. USA Financial Formulas bought a new stake in Construction Partners during the fourth quarter valued at about $31,000. Mather Group LLC. bought a new stake in Construction Partners during the 4th quarter valued at approximately $33,000. Byrne Asset Management LLC grew its holdings in Construction Partners by 33.3% in the 4th 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 last quarter. Nisa Investment Advisors LLC increased its position in Construction Partners by 400.9% in the 4th quarter. Nisa Investment Advisors LLC now owns 541 shares of the company's stock worth $48,000 after buying an additional 433 shares during the period. Finally, Golden State Wealth Management LLC acquired a new position in shares of Construction Partners during the fourth quarter worth approximately $50,000. 94.83% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ROAD. DA Davidson reaffirmed a "neutral" rating and set a $95.00 target price on shares of Construction Partners in a research report on Thursday, January 30th. Raymond James dropped their price objective 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. Finally, Robert W. Baird increased 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.

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Insider Transactions at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of the stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $73.83, for a total value of $442,980.00. Following the completion of the transaction, the senior vice president now owns 159,389 shares of the company's stock, valued at $11,767,689.87. This represents a 3.63 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Fred Julius Smith III acquired 9,333 shares of the firm's stock in a transaction on Monday, April 14th. The shares were bought at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the acquisition, the chief executive officer now directly owns 9,333 shares of the company's stock, valued at approximately $689,055.39. This represents a ∞ increase in their position. The disclosure for this purchase can be found here. 16.36% of the stock is owned by insiders.

Construction Partners Stock Performance

ROAD traded up $0.33 during trading on Tuesday, reaching $79.96. 380,165 shares of the company's stock were exchanged, compared to its average volume of 435,923. The company has a market capitalization of $4.47 billion, a P/E ratio of 74.73, a PEG ratio of 0.99 and a beta of 0.85. The company has a quick ratio of 1.23, a current ratio of 1.54 and a debt-to-equity ratio of 1.46. The business has a 50 day moving average price of $74.34 and a 200 day moving average price of $82.49. Construction Partners, Inc. has a fifty-two week low of $49.16 and a fifty-two week high of $103.69.

Construction Partners Profile

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.