Inceptionr LLC Acquires 1,967 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Inceptionr LLC boosted its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 54.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,598 shares of the company’s stock after purchasing an additional 1,967 shares during the quarter. Inceptionr LLC’s holdings in Construction Partners were worth $495,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Byrne Asset Management LLC grew its stake in Construction Partners by 33.3% in the fourth quarter. Byrne Asset Management LLC now owns 533 shares of the company’s stock valued at $47,000 after acquiring an additional 133 shares during the period. Allworth Financial LP grew its stake in Construction Partners by 15.0% in the fourth quarter. Allworth Financial LP now owns 1,228 shares of the company’s stock valued at $114,000 after acquiring an additional 160 shares during the period. USA Financial Formulas acquired a new stake in Construction Partners in the fourth quarter valued at approximately $31,000. KBC Group NV grew its stake in Construction Partners by 35.0% in the third quarter. KBC Group NV now owns 1,417 shares of the company’s stock valued at $99,000 after acquiring an additional 367 shares during the period. Finally, Mather Group LLC. acquired a new stake in Construction Partners in the fourth quarter valued at approximately $33,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ROAD has been the subject of a number of research reports. Raymond James reduced their price objective on Construction Partners from $112.00 to $104.00 and set a “strong-buy” rating for the company in a research note 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 reissued a “neutral” rating and issued a $95.00 price objective on shares of Construction Partners in a research note on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Construction Partners presently has a consensus rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Stock Up 1.6 %

ROAD stock opened at $69.41 on Friday. The stock’s fifty day simple moving average is $81.65 and its two-hundred day simple moving average is $80.88. The company has a current ratio of 1.54, a quick ratio of 1.23 and a debt-to-equity ratio of 1.46. Construction Partners, Inc. has a 1-year low of $49.16 and a 1-year high of $103.69. The stock has a market cap of $3.88 billion, a P/E ratio of 64.87, a P/E/G ratio of 0.99 and a beta of 0.79.

Insiders Place Their Bets

In other Construction Partners news, SVP John L. Harper sold 6,000 shares of the business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $94.41, for a total value of $566,460.00. Following the sale, the senior vice president now directly owns 154,856 shares in the company, valued at $14,619,954.96. The trade was a 3.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Todd Keith Andrews sold 2,511 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $95.86, for a total value of $240,704.46. Following the completion of the sale, the chief accounting officer now owns 19,339 shares in the company, valued at approximately $1,853,836.54. The trade was a 11.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,934 shares of company stock valued at $4,173,032. Insiders own 16.36% of the company’s stock.

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.