Construction Partners, Inc. (NASDAQ:ROAD) Holdings Lifted by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. increased its position in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 48.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 68,090 shares of the company’s stock after acquiring an additional 22,107 shares during the period. Construction Partners makes up about 0.8% of EFG Asset Management North America Corp.’s investment portfolio, making the stock its 26th largest position. EFG Asset Management North America Corp. owned approximately 0.12% of Construction Partners worth $6,026,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ROAD. Vanguard Group Inc. grew its stake in shares of Construction Partners by 42.8% in the 4th quarter. Vanguard Group Inc. now owns 3,492,368 shares of the company’s stock worth $308,935,000 after purchasing an additional 1,046,617 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Construction Partners in the fourth quarter worth approximately $42,527,000. Allspring Global Investments Holdings LLC increased its holdings in shares of Construction Partners by 197.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after buying an additional 408,610 shares in the last quarter. Fred Alger Management LLC bought a new position in shares of Construction Partners in the third quarter valued at $16,535,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of Construction Partners during the 4th quarter valued at $18,893,000. 94.83% of the stock is currently owned by institutional investors.

Construction Partners Trading Up 7.4 %

Shares of NASDAQ ROAD opened at $79.31 on Tuesday. 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 one year low of $49.16 and a one year high of $103.69. The business has a 50-day moving average price of $77.96 and a two-hundred day moving average price of $81.74. The firm has a market capitalization of $4.43 billion, a PE ratio of 74.12, a PEG ratio of 0.99 and a beta of 0.79.

Analyst Ratings Changes

ROAD has been the topic of a number of recent analyst reports. Raymond James cut their target price on 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. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a report on Thursday, January 30th. Finally, Robert W. Baird raised their target price on shares of Construction Partners from $100.00 to $102.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Three research analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $85.40.

Construction Partners Company 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.