Sei Investments Co. Buys 93,260 Shares of Construction Partners, Inc. (NASDAQ:ROAD)

Sei Investments Co. grew its stake in Construction Partners, Inc. (NASDAQ:ROAD) by 124.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 168,491 shares of the company’s stock after buying an additional 93,260 shares during the period. Sei Investments Co. owned 0.30% of Construction Partners worth $14,905,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. State Street Corp grew its holdings in Construction Partners by 2.7% during the 3rd quarter. State Street Corp now owns 1,004,867 shares of the company’s stock worth $70,140,000 after acquiring an additional 26,189 shares during the period. Allspring Global Investments Holdings LLC boosted its position in shares of Construction Partners by 197.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 616,032 shares of the company’s stock valued at $54,104,000 after purchasing an additional 408,610 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Construction Partners during the fourth quarter worth approximately $42,527,000. Charles Schwab Investment Management Inc. increased its holdings in Construction Partners by 2.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 463,000 shares of the company’s stock worth $40,957,000 after purchasing an additional 9,788 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new position in Construction Partners in the third quarter valued at approximately $16,535,000. 94.83% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ROAD. Raymond James lowered their price objective on shares of 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 lifted their price target 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. Finally, DA Davidson reissued a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th.

Construction Partners Price Performance

Shares of ROAD opened at $71.33 on Friday. The business’s fifty day moving average is $76.77 and its 200 day moving average is $81.89. Construction Partners, Inc. has a 12-month low of $49.16 and a 12-month high of $103.69. 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 stock has a market cap of $3.99 billion, a P/E ratio of 66.66, 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.