Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Advisory Services Network LLC

Advisory Services Network LLC trimmed its stake in shares of Construction Partners, Inc. (NASDAQ:ROAD) by 10.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,341 shares of the company’s stock after selling 500 shares during the period. Advisory Services Network LLC’s holdings in Construction Partners were worth $384,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Legal & General Group Plc boosted its stake in Construction Partners by 3.9% in the 4th quarter. Legal & General Group Plc now owns 46,230 shares of the company’s stock worth $4,090,000 after purchasing an additional 1,720 shares during the period. Invesco Ltd. raised its stake in Construction Partners by 75.6% during the 4th quarter. Invesco Ltd. now owns 1,493,866 shares of the company’s stock valued at $132,147,000 after purchasing an additional 642,987 shares during the period. FMR LLC lifted its holdings in shares of Construction Partners by 32.1% in the fourth quarter. FMR LLC now owns 2,329,801 shares of the company’s stock valued at $206,094,000 after purchasing an additional 565,583 shares in the last quarter. Federated Hermes Inc. boosted its position in shares of Construction Partners by 76.5% in the fourth quarter. Federated Hermes Inc. now owns 44,453 shares of the company’s stock worth $3,932,000 after buying an additional 19,268 shares during the period. Finally, Thames Capital Management LLC purchased a new position in shares of Construction Partners during the fourth quarter valued at $6,793,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on ROAD. DA Davidson restated a “neutral” rating and set a $95.00 price objective on shares of Construction Partners in a research report on Thursday, January 30th. Robert W. Baird raised their price target 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. Finally, 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 research note on Thursday, January 16th.

Construction Partners Trading Down 1.3 %

Shares of NASDAQ ROAD opened at $77.45 on Friday. The business has a 50 day simple moving average of $74.09 and a 200 day simple moving average of $82.52. Construction Partners, Inc. has a 52 week low of $49.16 and a 52 week high of $103.69. The stock has a market cap of $4.33 billion, a price-to-earnings ratio of 72.38, a PEG ratio of 0.99 and a beta of 0.85. The company has a debt-to-equity ratio of 1.46, a quick ratio of 1.23 and a current ratio of 1.54.

Insider Buying and Selling at Construction Partners

In related news, SVP John L. Harper sold 6,000 shares of Construction Partners stock in a transaction on 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 sale, the senior vice president now owns 159,389 shares of the company’s stock, valued at approximately $11,767,689.87. The trade was a 3.63 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Fred Julius Smith III bought 9,333 shares of the stock in a transaction on Monday, April 14th. The shares were acquired at an average cost of $73.83 per share, for a total transaction of $689,055.39. Following the completion of the transaction, the chief executive officer now directly owns 9,333 shares of the company’s stock, valued at approximately $689,055.39. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 16.36% of the company’s stock.

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.